We have frequently referred to a “sole member” corporation to protect a founder of a nonprofit corporation when the founder wants assurance that he or she can develop the organization as a career to help make the world better in some way.
Not everyone believes that they are appropriate or in the public interest. But we have seen too many founders, who work for years essentially as volunteers, to create an organization and then get fired when their “best friends” on the Board decide to go in a different direction. The community usually loses an important effort in such situations, especially when the best friends could have gone off and established their own organization to do what they want to do.
This 9 page pdf includes a discussion of the topic and an “annotated” version of sample bylaws.
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Need more information on bylaws? Consider purchasing our recorded webinar - Bylaws: The "Constitution" of Nonprofits - The Art and Science of Making Them Work
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