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Tax-Exempt Financing of Churches, Parochial Schools and Other Sectarian Institutions After Trinity Lutheran Church: Permitted? ...

The U.S. Supreme Court’s June 26 opinion in Trinity Lutheran Church of Columbia, Inc. v. Comer, precluding states from discriminating against churches in at least some state financing programs, raises anew the question of...more

Year-End Tax Planning with Tax Credit-Funded Scholarships

The Alabama Accountability Act provides state income tax credits to certain donors who make contributions to a state-approved scholarship granting organization (SGO). Alabama’s neediest school children can be helped at little...more

IRS Relaxes Restrictions on Management Contracts for Bond-Financed Facilities

by Mintz Levin on

The IRS on August 22, 2016 released long-anticipated Revenue Procedure 2016-44 (Rev. Proc. 2016-44), which substantially increases flexibility in, and provides a less formulaic approach to, the ability of a tax-exempt bond...more

Congress Inquires About College and University Endowments

by Morgan Lewis on

US House Committee on Ways and Means and US Senate Committee on Finance issue joint letter to colleges and universities with endowments greater than $1 billion. On February 8, the US Senate Committee on Finance and the...more

Does the trustee who socially invests entrusted funds breach his/her/its fiduciary duty of undivided loyalty, absent express...

by Charles E. Rounds, Jr. on

On February 8, 2015, The University of California Student Association [which purports to represent all 240,000 students enrolled in the UC system’s 10 campuses] passed [9-1-5] the following resolution, which, in part, calls...more

New IRS guidance for certain entities benefitting from tax-exempt bond financings

by Ballard Spahr LLP on

The IRS has released guidance in three areas of interest to entities that benefit from tax-exempt bond financings, particularly hospitals and educational institutions....more

Recent Favorable IRS Guidance for Tax-Exempt Bond Financed Facilities

by Ballard Spahr LLP on

The IRS has released guidance in three areas of interest to entities that benefit from tax-exempt bond financings, particularly hospitals and educational institutions. This guidance creates new rules related to management...more

OMB and Federal Agencies Publish Final Rule on Grants and Cooperative Agreements

by Morrison & Foerster LLP on

On December 19, 2014, the White House Office of Management and Budget (OMB) and 28 federal agencies published in the Federal Register a consolidated interim final rule to implement OMB’s December 2013 final guidance on...more

Recent 403(b) Developments

by King & Spalding on

Background - 403(b) retirement plans are similar to 401(k) plans, but the employers who may establish 403(b) plans are limited to public schools, certain tax exempt employers (including religious and charitable...more

Compensation and Unrelated Business Income are Focus of IRS Colleges and Universities Report

by Ropes & Gray LLP on

Just a few weeks before many tax-exempt organizations file their annual Form 990, the IRS yesterday released its final report on the Colleges and Universities Compliance Project, which it had initiated in 2008 by sending...more

Education Update, No. 1, January 2013: Give Generously, Keep It Legally

by Fisher Phillips on

About a month ago, one of the school’s families that owns a popular restaurant and bar held a special fundraising event whereby 20% of the proceeds from every meal served were donated to the school. The school sent out email...more

Public Charter Schools - Second Edition

Introduction The public charter school movement has evolved for two decades, yet the challenge of securing affordable facilities continues to confront nearly every charter school. The landscape of solutions now includes...more

Terminating a 403(b) Plan: Final Regulations Give a Green Light, but Employers Should Proceed with Caution

Originally published in the Tax Management Compensation Planning Journal, 39 CPJ 227, 11/04/2011. In July 2007, the Internal Revenue Service (IRS) issued final regulations (the ‘‘Final Regulations’’) under §403(b) of the...more

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