Related contentFor-profits must give value, too Governance: Make sure appointments to the subsidiary's board are controlled by the nonprofit's board, said association industry attorney Mark Alcorn. Likewise, make sure bylaws cannot be changed without prior approval of the parent group. Alcorn said he's seen subsidiaries "simply walk away because they can." Expertise: Associations may need to hire people with business development and business management knowledge, as well as in specialized products such as insurance, said Jennifer Baker of ASAE. It is important to have such expertise on the subsidiary board as well, she said. Purpose: Know your market and provide… Read More