Corporate Law & Governance Update - December 2016
EMPHASIS ON DIRECTOR EDUCATION - The board development committee may wish to reconsider its director education program for 2017 following two recent and unrelated developments. The first is a greater...
View ArticleExempt Organizations: New Amendments to the Nonprofit Revitalization Act of...
On November 28, 2016, New York State Governor Andrew Cuomo signed Senate Bill No. S07913B enacting another round of amendments to the Nonprofit Revitalization Act of 2013 (the "NPRA")....By: Bond...
View ArticleNew York Institutions: New Amendments to the Nonprofit Revitalization Act of...
On November 28, 2016, New York State Governor Andrew Cuomo signed legislation enacting another round of amendments to the Nonprofit Revitalization Act of 2013. The amendments should ease compliance...
View ArticleForming a Tax-Exempt Section 501(c)(3) Corporation
Although startups are traditionally for-profit ventures, the same principles used to launch a successful startup also apply to the formation of philanthropic enterprises. Generally when people discuss...
View ArticleEO Update: e-News for Charities & Nonprofits
Form 990-N e-Postcard page unavailable 12/26/16 to 1/6/17 - The Annual Electronic Filing Requirement for Small Exempt Organizations — Form 990-N (e-Postcard) page will be down from December 26, 2016 at...
View ArticleCorporate Law & Governance Update - January 2017
The following developments from the past month offer guidance on corporate law and governance law as they may be applied to nonprofit health care organizations: HEALTH POLICY INITIATIVES - Perhaps the...
View ArticleFive Gnostic Exemptions From The Qualification Requirements Of The Corporate...
When looking for exemptions from the qualification requirements of the California Corporate Securities Law of 1968, a good place to start is Chapter 1, Part 2, Division 1 of Title 4 of the Corporations...
View Article501(c)(3) Public Charities Subject to New Donor Disclosure Requirements in...
Since 1958, when the Supreme Court held that the State of Alabama’s attempt to compel the NAACP to disclose its membership lists infringed on the members’ constitutional rights to freedom of speech and...
View ArticleExecutive Compensation Alert: IRS Filing and Reporting Requirements for ISO...
This Client Alert is intended to remind you of certain year-end reporting requirements under Section 6039 of the Internal Revenue Code of 1986, as amended (the “Code”), with respect to stock issued to...
View ArticleDo Outsiders Have Standing?
One of the essential elements of a contract is the consent of the parties. Cal. Civ. Code § 1550(2). When a party is not a corporation, there is always a question of whether the person or persons...
View ArticleGrant to Public Charity Qualifies as “Unusual Grant” for Public Support Test
Publicly supported charities provide favorable benefits under the Code for both the organization and donors, in contrast with non-publicly supported private foundations. To qualify, the organization...
View ArticleSimplified tax regime under Trump might obviate current workarounds, experts...
Marc M. Stern, an estate planning partner at Greenberg Glusker, was quoted in a Daily Journal article published on January 11, 2017, about the potential for a system under Trump in which exotic...
View ArticleOle Miss Substantially Prevails in Tax Court Case over Taxability of Coach...
Tax exempt organizations must report and pay tax on their “unrelated business income.” Butler Snow recently represented The University of Mississippi (“UM”) in a federal income tax dispute in the...
View ArticleDelayed Enforcement of New York Donor Disclosure Requirements for 501(c)(3)...
A federal court development has delayed enforcement of the recently enacted New York State legislation (described in our prior blog post) requiring 501(c)(3) organizations to publicly disclose the...
View ArticleProperty Tax & Valuation Topics: Winter 2017
On September 30, 2016, the Connecticut Supreme Court heard oral argument in Nutmeg Housing Development Corp. v. Colchester. On the face of it, the ad valorem valuation of a garden variety property in...
View ArticleThe DBO As Religious Regulator
In December last, the Department of Business Oversight published the 2016 Commissioner’s Report on the Offer or Sale of Securities by Permit under Corporations Code Section 25113. This report, which is...
View ArticleProtections afforded to Massachusetts' ancient burial grounds
See Charles E. Rounds, Jr., Protections Afforded to Massachusetts’ Ancient Burial Grounds, 73 Massachusetts Law Review176 (1988). Here is an external link to the article:...
View ArticleIRS Releases Updated Form 990-EZ; New Options to Help Exempt Organizations...
WASHINGTON — The IRS announced today the release of an updated Form 990-EZ, Short Form Return of Organization Exempt From Income Tax, that will help tax-exempt organizations avoid common mistakes when...
View ArticleIRS Issues Clarification for Tax-Exempt Management Contracts - Impact on...
In IRS Revenue Procedure 2017-13 (Rev. Proc. 2017-13), the IRS clarifies safe harbor conditions under which a management contract will not result in private business use of a property financed by...
View ArticleKeeping Your Family Foundation in Compliance
The 2016 election cycle made front page news of certain failures in compliance by both the Bill, Hillary & Chelsea Clinton Foundation and The Donald J. Trump Foundation. Every new year brings new...
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