Attorney General Eric Schneiderman is announcing the Nonprofit Revitalization Act today during a speech in Tarrytown.
He’s giving the keynote address at a non-for-profit leadership summit hosted by the United Way of Westchester and Putnam.
Schneiderman is introducing legislation that he said would “improve and modernize” New York’s charities law for the first time in 40 years. He said the measure would reduce the governmental burdens that nonprofits face.
“The process for forming a nonprofit should be clear, simple and inexpensive,” Schneiderman said in the speech, which was obtained today by Gannett’s Albany Bureau. “We are a long way from this goal under New York’s current laws.”
Schneiderman said nonprofits are suffering in a tough economy, and New York should enact laws that foster their growth. It comes at the same time as Gov. Andrew Cuomo has called for a crackdown on executive pay at state-funded nonprofits.
The bill would streamline many of the “onerous requirements” on nonprofits, Schneiderman said. For example, his bill would no longer require two-thirds of a full board’s vote for minor real-estate transactions. The bill would also no longer require private foundations to publish notice each year of their financial reports in newspapers.
Schneiderman said his office is also creating “New York On Board” to recruit nonprofit directors and boost philanthropy. He’s also kicking off “Directors U” — a training program on good governance practices. It will organized through several colleges, including NYU, Cornell and Yale.