The IRS tells us that the Articles of Incorporation and the organizational by-laws shall define the managerial organization of the not-for-profit. In the case of the AMA the definition of the EVP is defined in the bylaws as: “The Executive Vice President shall be the Chief Financial Officer of the AMA, shall monitor the financial and corporate affairs of the AMA, make an annual report to the membership regarding the financial affairs of the AMA; and shall make periodic reports, not less than quarterly, to the Executive Council regarding financial matters of the AMA, and shall assume the duties of the President in the event of a vacancy as described in Section 2. until such vacancy is filled.”

To go to the internet for a definition is about as useful as running a Google search for the definition of rudder, or elevator. Certainly, the correct information is to be found; just as certainly, conflicting information, that is of no benefit, will also be found. Being able to distinguish the difference is paramount, i.e., a not-for-profit is not the same animal as a for profit corporation.

In the post Enron world of accounting a law was passed to insure the integrity and actions of managements at all levels. The act is known as the "Sarbanes-Oxley Act of 2002". The act may be found here in its entirety: http://news.findlaw.com/hdocs/docs/g...xley072302.pdf or here for a summary: http://www.aicpa.org/info/sarbanes_oxley_summary.htm .

A careful reading of Sarbanes will reveal that it applies to only public corporations. Further research will reveal that oversight boards, CPAs and Attorneys practicing tax law state that it should be used by non-for-profit organizations and even private organizations were there are stakeholders. There are literally hundreds of such statements to be found on the net. An example is here: http://www.cpbo.org/archive/resources/resource1370.html .

As can be seen, the only practical way to implement Sarbanes is to have immediate access to a CPA, just for the BOD, or to have a CPA on the BOD. This is the post-Enron world of accounting.

Here is an additional source on the running of not-for-profit organizations. There are many such sites available on the net: http://nonprofit.about.com/ .

I have not communicated with Doug Holland since early January, and if anyone has questions about the above, unless there is someone with sufficient knowledge here, I will have to call him. I am reaching the limits of my understanding on these points. If another member of this forum has expertise to share, please step up.