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Event Date: 03.23.2021
Part of Mass Cultural Council’s Recover, Rebuild, Renew Series
The workshop will focus on the challenges associated with nonprofit mergers and, more commonly, acquisitions. Mergers and acquisitions each raise unique business and financial questions: What are the various types of mergers, and the relevant vocabulary? What is the process of a merger: Due diligence, Written agreement(“MOU”), Board votes. Bylaws, Secretary of State filings. In an acquisition, what will become of the acquired organization’s staff, and in what form will the programs and operations of the acquired organization continue? In a merger, who will govern the new organization? What are the boards’ roles? (Before and after).
The format of this workshop will be a 1.5-hour virtual webinar, with time built-in for questions and answers. This webinar will be presented by nonprofit and corporate M&A attorneys.
Outcomes: At the end of this session, participants will be able to understand a high-level overview of a nonprofit corporate merger and a high-level overview of a nonprofit corporate acquisition, including key vocabulary pertaining to both processes. Participants will also learn key business questions to help evaluate the viability of a corporate merger or acquisition, and how to apply for individualized legal assistance from the Volunteer Lawyers for the Arts.
Consulting Firm: Arts and Business Council of Greater Boston, Boston, MA
Content Expert: James Grace, Esq., Executive Director, Arts & Business Council of Greater Boston, Inc.
Jim Grace is the Executive Director of the A&BC. He was the Executive Director of the Volunteer Lawyers for the Arts of Mass. from 1998 until 2008, when it merged with the A&BC. Jim has extensive experience working with artists and arts organizations in the areas of public art and social practice art projects, copyright, nonprofit incorporation and mergers, nonprofit boards and real estate development of creative spaces. Jim was an adjunct professor for BU’s Masters in Arts Admin Program for five years where he co-taught a course on legal issues in arts administration. Currently, Jim teaches workshops locally and nationally on a variety of legal and artist professional development topics. He serves on the boards of the Brookline Community Foundation and the AIR Institute (in DC) as well as the Advisory Board of Brain Arts Org and is a founding board member of the Arts Services Coalition and the Fort Point Cultural Coalition (the developer of Midway Studios, 89 units of artist live/work space in downtown Boston). He previously served on the board of Philanthropy Massachusetts and the Private Sector Council of Americans for the Arts. Jim is also a working author, book editor, and published attorney. He is the co-author of the bestseller, The Worst Case Scenario Handbook: Golf. To date, Jim has been involved in the publication of over eight books.
Auto-generated captions will be provided. If you have additional questions or to request additional accommodations to ensure your participation, please contact Michael Ibrahim.