Nonprofit Liquidation: When Dissolution, Insolvency, Bankruptcy or Receivership Happens

Nonprofit Liquidation: When Dissolution, Insolvency, Bankruptcy or Receivership Happens

How do we end the life of (or revive) a nonprofit organization? Sometimes it’s sudden; sometimes it’s a long time coming. But it happens, all too frequently. Creditors are no longer willing to just take the hit, and are going after individual directors and officers for the debts owed by the organization.

Please join attorney Zachary Kester for an engaging session that helps nonprofit directors and officers decide how to handle end-of-life issues for nonprofits. Topics include choosing when to “pull the plug,” determining which method of dissolution is best, figuring out what to do when a creditor or receiver attempts to force sale of assets, preparing final regulatory filings, and more.

Just a sampling of what this webinar will cover:

1. Understanding Terms
• Dissolution
• Insolvency
• Bankruptcy
• Receivership/Custodianship
2. Considering the Options
• What Are the Pressures?
• Alternatives to Closure
• Accessing D&O Insurance
• Preserving Programs
• Preserving Assets
3. Closing the Nonprofit
• Administrative
• General/Voluntary
• Judicial
• Wind-Up Organization’s Affairs
• Final Filings
4. When the Nonprofit Is “Upside Down”
• The Time to Act
• Choosing Among Bad Options
• When Emotions Cloud Good Decisions
5. “Walking Away” Is Not an Option
6. Sell Everything or Give It Away?

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