Finance & Banking Nonprofits

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The War on Charity: Nonprofits Should Take a Page from the For-Profit Handbook to Survive & Thrive

Nonprofit organizations do good, improve lives, strengthen communities, and lighten the burdens of government and society as a whole. Unfortunately charities are, more than ever before, facing exponentially growing needs,...more

NJ Federal Court Rules Pension Plan Established By Church-Controlled Hospital Not an ERISA-Exempt Church Plan

On March 31, 2014 the U.S. District Court in New Jersey held that a defined benefit pension plan established by St. Peter’s Healthcare System was not a church plan exempt under ERISA despite the fact that St. Peter’s is...more

NASA Proposed Rule: Clarification of Profit and Fee on Federal Financial Assistance Awards (RIN 2700-AD79)

NASA is proposing to revise the NASA Grant & Cooperative Agreement Handbook to clarify that the agency does not pay profit or fee on Federal Financial Assistance awards (i.e., grants and cooperative agreements) to non-profit...more

Political Law Briefing - March 2014

In this issue: - The Return of Party Soft Money? - The FEC Increases the Lobbyist Bundling Threshold and Coordinated Party Expenditure Limits - Upcoming Events - Excerpt from The Return of Party...more

Federal Grant & Contract News for Nonprofits - February 2014

In our ongoing coverage of the 2013 release of the Office of Management and Budget’s (OMB) “Super Circular”, we provide further information and guidance from OMB, through the Council on Financial Assistance Reform (COFAR)....more

Caveat Charities: Disgorging Donations as Fraudulent Transfers

The Bankruptcy Code permits a trustee to avoid transfers of property that a debtor has made within two years prior to its bankruptcy filing. In 1998, Congress added a safe-harbor provision for contributions to qualified...more

A Setback for Mandated Political Spending Disclosure

One of the hottest SEC rulemaking topics over the past two years—disclosure of corporate political spending—quietly took a significant hit a few weeks ago when the SEC removed it from its rulemaking agenda. The clamor for...more

Beware of Entering into Business with your Spouse

The U.S. Fourth Circuit Court of Appeals, which covers Maryland, recently rendered a tax decision noteworthy to all married couples who participate in their business together. The case, Johnson v. U.S., decided November 5,...more

Taxes and Politics Collide in New IRS Guidelines for 501(c)(4) Organizations: IRS Proposes to Restrict Political Activities of...

On November 29, 2013, the Internal Revenue Service (“IRS”) issued proposed rules, “Guidance for Tax-Exempt Social Welfare Organizations on Candidate-Related Political Activities” (78 Fed. Reg. 71535-71542 (Nov. 29, 2013)),...more

Your Nonprofit Has Gone Global: Now What Are Your U.S. and Foreign Tax Compliance and Reporting Obligations?

In this presentation: - Form of foreign operations - Foreign tax treatment of the foreign operations - U.S. tax treatment of the foreign operations - VAT/GST issues - Employee and...more

California Enacts 409A Legislation Reducing State Tax Penalty

California Governor Jerry Brown signed into law AB1173 on Oct. 4, 2013, reducing the California 409A tax penalty from 20% to 5% for taxable years beginning January 1, 2013. The bill, a victory for California businesses and...more

Deductible Charitable Contributions Can Be Made Through An Agent

Most taxpayers making charitable contributions will transfer their own funds or property to the charitable recipient. What happens if another person or entity makes the actual transfer to the charitable recipient?...more

Federal Grant & Contract News for Nonprofits - September 2013

Unfortunately, as the 2013 government fiscal year comes to a close, we again face severe federal financial uncertainty as the Consolidated and Further Continuing Appropriations Act of 2013 (P.L. 113-6) expires at 11:59 PM on...more

Assets Held by Charitable Organizations Are Safe From Claims of Creditors in Bankruptcy Cases . . . Or Are They?

A charity, fulfilling its charitable mission, is successful in raising money for a variety of worthy projects - rebuilding after a natural disaster, medical education and care, summer camp experiences for disadvantaged...more

Municipal Bankruptcies – Interview with Bill Kannel, Member, Mintz Levin [Video]

Attorney Bill Kannel, Member of Mintz Levin's Bankruptcy, Restructuring & Commercial Law Practice, discusses the prerequisites for municipalities looking to file Chapter 9 bankruptcy. ...more

Financing Trends in Life Sciences – Interview with Bill Whelan, Member, Mintz Levin  [Video]

Attorney Bill Whelan, Co-chair of Mintz Levin's Life Sciences Practice, discusses what is driving financing trends in the life sciences....more

Dual Track Auctions for Distressed Companies – Interview with Rich Moche, Member, Mintz Levin  [Video]

Attorney Rich Moche, Chair of Mintz Levin's Public Finance Practice, talks about an innovative approach to maximizing the value of a distressed asset....more

Southern District of New York Dismisses Complaint Against Madoff-Invested Fund

The US District Court for the Southern District of New York dismissed a complaint against J. Ezra Merkin and Gabriel Capital Corporation (together, Defendants), which together managed Ascot Fund Limited (Ascot), an offshore...more

Exemptive Relief from the Ontario Securities Commission Permits a Limited Crowdfunding Platform

On June 17, 2013, the Ontario Securities Commission (OSC) rendered a decision granting exemptive relief (the Decision) to MaRS Social Venture Connection (MaRS VX), a not-for-profit entity, effectively allowing it to operate...more

Electronic Health Records Donations: Proposed CMS And OIG Rules Revise Stark Exception And Anti-Kickback Safe Harbor

On April 10, 2013, the Centers for Medicare & Medicaid Services (‘‘CMS'') and the Office of the Inspector General of the Department of Health and Human Services (‘‘OIG'') published twin proposed rules that amend and extend...more

Examining Charitable Patient Assistance Programs Part Three in a Series: Using Third Parties to Evaluate Charitable PAPs

In today’s challenging health care environment, Charitable Patient Assistance Programs (Charitable PAPs) have emerged to meet the needs of the nearly 30 million Americans that are underinsured and have difficulty paying...more

IRS to Begin Compliance Checks of Non-Governmental Section 457(b) Plans

The Internal Revenue Service recently announced it was conducting “compliance checks” of Section 457(b) plans. This newsletter discusses what those compliance checks involve as well as the steps Section 457(b) plan sponsors...more

Rules Creating Exemptions to the ATR Rule Finalized

The Consumer Financial Protection Bureau (CFPB) recently finalized rules that modified and created specific exemptions to the CFPB’s Ability-to-Repay Rule. The rules have three main effects....more

Nonprofits Operating in New York Must Disclose Donors, Itemize Spending for Election Advocacy and Issue Ads

Nonprofit groups raising money in New York are required by new rules to report nationwide spending on communications that support or oppose candidates and ballot initiatives, or that simply refer to candidates within certain...more

Social Entrepreneurship—Too soon?

Many entrepreneurs are intrigued by the new buzzwords sweeping the community –“social entrepreneurship.” Social entrepreneurship seeks to combine the most popular features of for profit entities (namely, eh, profit) with the...more

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