Navigating a Nonprofit Corporation through Bankruptcy - NPQ - Nonprofit Quarterly

Navigating a Nonprofit Corporation through Bankruptcy - NPQ - Nonprofit Quarterly: The nonprofit sector is an enormous contributor to the American economy, providing 5.5 percent of the nation’s GDP and employing 13.7 million people. Just like for-profit corporations, nonprofits can be susceptible to financial problems and insolvency, and may ultimately seek protection under the Bankruptcy Code (although, unlike for-profit corporations, nonprofits cannot be forced into bankruptcy involuntarily). While there is ample guidance for nonprofit directors regarding their fiduciary duties gen