The Nonprofit Revitalization Act of 2013, discussed in a prior blog, was finally signed into law by Governor Cuomo. The law goes into effect July 1, 2014. The law will make it much easier for nonprofits to be formed and managed in New York. It is an early Christmas present for the nonprofit sector and beyond. The Governor and legislature are to be commended for recognizing and fixing the many obstacles and impediments in the New York Not-for-Profit Corporation Law, first enacted in 1969. The changes should improve the performance and accountability of New York nonprofits and make New York more competitive in attracting and retaining nonprofits.
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