Nonprofits Updates

Read need-to-know updates, commentary, and analysis on Nonprofits issues written by leading professionals.
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IRS releases updated safe harbors for management contracts in tax-exempt bond-financed projects

On August 22, 2016, the Internal Revenue Service released Revenue Procedure 2016-44. The purpose of this revenue procedure is to provide revised and broader “safe harbors” under which certain private management contracts will...more

IRS Loosens Restrictions on Safe Harbors for Management Contracts for Bond-Financed Property

The Internal Revenue Service, in Revenue Procedure 2016-44, has loosened the restrictions on safe harbors for management contracts entered into by governmental issuers of tax-exempt bonds in connection with facilities...more

North Carolina Public Records Law 101 - A primer for economic development professionals

At the North Carolina Economic Development Association 2016 Annual Conference, I participated on a panel discussion and presentation regarding public records law requirements in North Carolina and how they affect economic...more

Section 501(c)(4) Organizations Subject to IRS Notice Requirement

Nonprofit entities that intend to operate as tax-exempt organizations described in section 501(c)(4) of the Internal Revenue Code (Code) are subject to new reporting requirements with the IRS. Specifically, newly-enacted...more

IRS Relaxes Restrictions on Management Contracts for Bond-Financed Facilities

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

Consider Your Options for Charitable Giving - Trusts and Estates Update Volume 2016, Issue 1

There are many charitable giving options that are available to fit a donor’s specific goals. You do not have to be Bill Gates or Warren Buffett to make a difference in the world now and after you are gone. Most of our...more

IRS Guidance on Section 457: What Non-Profit and Governmental Employers Need to Know (Part 2)

We're back with the second installment in our series on the IRS's Section 457 proposed rules. The first alert covered Section 457(f) basics and discussed the meaning of "deferred" compensation....more

What, If Anything, Impedes The SEC’s Whistleblower Rule?

As I suspected, law firms are churning out memoranda on the SEC’s recent enforcement actions involving alleged impediments to whistleblowers. While accurately, summarizing these actions, I’m not sure that some of the authors...more

Teaming Sports Stars, Good Causes Great – But Know the Rules

Many sports figures have created nonprofit organizations to raise funds for a cause close to their hearts. But the reality is that athletes’ foundations aren’t always successful in raising money for charity. This article...more

Drug Companies and Charitable Patient Foundations

Charitable organizations can easily become enmeshed in Justice Department enforcement issues. We have seen charities used in FCPA cases as a means to funnel bribes to government officials, spouses or family members....more

New IRS Notice Requirement for 501(c)(4) Organizations ** September 6 Filing Deadline Fast Approaching **

On July 8, 2016, the Internal Revenue Service (IRS) issued Revenue Procedure 2016-41 implementing a provision of the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”). The provision, Section 405 of the PATH...more

Election Year Reminders: Cautionary Guidance for Employers That Sponsor PAC/Charity Matching Programs

As we head into the final stretch of the presidential election cycle, employers — both for-profit and nonprofit — may wish to offer employee programs to encourage civic participation, including facilitating political...more

Election Year Updates for Section 501(c)(4) Social Welfare Organizations

The Protecting Americans from Tax Hikes Act of 2015, or the PATH Act, made several changes to tax law applicable to section 501(c)(4) organizations operating this election year. In addition, two relatively recent IRS denials...more

Colleges and Universities Targeted in Class Action Lawsuits over Operation of Retirement Plans

Multiple class action lawsuits seeking millions of dollars in damages were filed last week against eight nonprofit universities challenging the administration of their 403(b) retirement plans. The lawsuits, which were all...more

Taylor English victory in litigation against IRS

Our client, Linchpins of Liberty, is a non-profit organization that, along with roughly 37 other clients, applied for non-profit status under IRC Sections 501(c)(3) or 501(c)(4). Because of their names, the IRS failed to...more

A New Landscape - Compliance clarifications and planning opportunities for governmental and tax-exempt employers sponsoring...

On June 22, 2016, the Internal Revenue Service (IRS) published its long-awaited proposed regulations (the Proposed Regulations) under Section 457(f) of the Internal Revenue Code (the Code). Section 457(f) governs the taxation...more

D.C. Circuit Court Gives Victory to Conservative Non-Profit Groups Targeted by IRS

Last week, the U.S. Court of Appeals for the D.C. Circuit reversed two district court decisions that had dismissed the claims of dozens of conservative non-profit organizations (the "Plaintiffs") in the Internal Revenue...more

EPA's Clean Energy Incentive Program

Expansion of Eligible Low Income Community Projects to Include Solar Projects - The Environmental Protection Agency's Clean Energy Incentive Program (CEIP) allows participants to earn tradeable emissions credits for...more

Merging Wisely: Best Practices for Structuring Successful Non-Profit Mergers

A merger in the non-profit world is no less complicated than the merger of a for-profit corporation. But the metrics of success are different. Values-based organizations structured around achieving a mission—as opposed to...more

IRS Guidance on Section 457: What Non-Profit and Governmental Employers Need to Know (Part 1)

There has been a lot of buzz recently about the long-awaited proposed rules issued by the Internal Revenue Service under Internal Revenue Code Section 457. Section 457 only applies to non-profit and governmental employers and...more

Remembering Four Years Ago, Will Tax Reform Come out of This Lame Duck Session of Congress?

No matter who wins the White House in November, the new president’s agenda will include tax reform. But changes to our tax laws need not wait until after inauguration day, as we learned four years ago when the “fiscal cliff”...more

New Proposed Regulations for Section 457(f) Nonqualified Deferred Compensation Arrangements of Non-Profit and Governmental...

The Internal Revenue Service recently released long anticipated proposed regulations (the “Proposed Regulations”) governing deferred compensation arrangements maintained by tax-exempt organizations and governmental entities...more

Changes to Compensation Rules for Tax-Exempt Entities

?Special rules apply to compensation arrangements of tax-exempt entities. If the arrangement does not comply with the rules, then the amount of compensation subject to the arrangement is taxed to the employee as soon as it is...more

Relief in Sight for New York Nonprofits with Prospect of Additional Amendments to the Nonprofit Revitalization Act of 2013

On June 16, 2016, the New York Legislature passed A10365-B approving further changes to the Nonprofit Revitalization Act (the “Revitalization Act” or “Act”), including major changes to the rules on independent directors and...more

New IRS notification process announced for 501(c)(4) nonprofits

Earlier this month, the US Internal Revenue Service (IRS) released its long-awaited temporary regulatory framework implementing the new statutory notification requirements placed on 501(c)(4) nonprofit organizations by the...more

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