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IRS Introduces New Form 1023-EZ to Streamline Applications for 501(c)(3) Tax-Exempt Status

On July 1, 2014, the Internal Revenue Service (IRS) launched a new Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, that is intended to enable small...more

IRS Releases Streamlined Application for Tax-Exempt Status

The Internal Revenue Service (the “IRS”) has significantly streamlined the application process for small nonprofits seeking recognition as tax-exempt 501(c)(3) organizations through the release of a new application form on...more

Foreign Tax-Exempt Organizations Exempt from Withholding Tax

Investment funds, including private equity funds, often receive capital contributions from tax-exempt organizations. These tax-exempt institutions may include U.S. and foreign pension funds, as well as U.S. and foreign...more

Tax Law Blog: UPDATE: Form 1023 EZ Released for Small Nonprofits

It seems as soon as I blogged about the draft Form 1023-EZ, the IRS released the final form. So, this will serve as an update and follow-up to my June 30, 2014 post. on the Form 1023-EZ, the IRS has now released Form...more

Last Minute Uncertainty for Registered Charities Under Canada’s Anti-Spam Law

Canadian registered charities seeking to comply with Canada’s new anti-spam law (CASL) recently received some disappointing news. CASL is a very complex law and many important issues remain ambiguous and uncertain. Several...more

Bishop Gassis v. Corkery, C.A. No. 8868-VCG (Del. Ch. May 28, 2014) (Glasscock, V.C.)

In this post-trial decision in a proceeding pursuant to 8 Del. C. § 225, the Court of Chancery held that the board of the Sudan Relief Fund, Inc. (the “Fund”), a charitable corporation, validly removed the plaintiff as a...more

New York Nonprofit Revitalization Act Rollout Challenges

As the July 1, 2014 compliance date of the New York Nonprofit Revitalization Act of 2013 (the "Revitalization Act") quickly approaches, many charities operating in New York are confronting some difficult rollout challenges....more

Tax Law Changes on the Horizon for Exemption Applications

A significant change is pending regarding the Internal Revenue Service’s Application for Recognition of Exempt Status (IRS Form 1023). If approved by the Treasury’s Office of Management and Budget (OMB), the change will...more

The For-Profit Entity's Guide to Doing Business with Nonprofit Organizations

30-SECOND SUMMARY It may seem logical for certain for-profit organizations to enter into business arrangements with nonprofits. Although both parties can certainly benefit from such an arrangement, the nonprofit must be...more

In Landmark Ruling, Massachusetts SJC Upholds Tax Exemption for Charitable Conservation Land

On May 15, 2014, the Massachusetts Supreme Judicial Court (“SJC”) issued a landmark decision, New England Forestry Foundation, Inc. v. Board of Assessors of Hawley, SJC-11432 (May 15, 2014), upholding the tax exempt status of...more

Not-for-Profit Law Alert

As previously advised, on October 17, 2011, the Canada Not-for-Profit Corporations Act (the NFP Act) was proclaimed in force. As a result, federally incorporated not-for-profit corporations are required to transition to the...more

New York Court Strikes Down Regulations Limiting Executive Compensation and Administrative Expenses

A New York court has held that the State’s regulatory limits on executive compensation and administrative expenses for entities that receive state funds unconstitutionally exceed proper regulatory authority. The regulations,...more

Minnesota Public Benefit Corporation Act

In This Issue: - Introduction - Minnesota Public Benefit Corporation Legislation - Effective Date - Types of Public Benefit Corporations - Establishment of a Public Benefit Corporation - Name -...more

An Introduction to Non-Profit Entities in the DIFC

While the free zone continues to focus on the financial services industry, the Non-Profit Incorporated Organisation (NPIO) represents an additional tool to attract non-profit entities. While the Dubai International...more

Two Recent FTC Cases Demonstrate the Antitrust Risk of Association Codes of Ethics

The Federal Trade Commission (FTC) recently entered into consent orders with the Music Teachers National Association (MTNA) and the California Association of Legal Support Professionals (CALSPro). The consent orders highlight...more

Proposed Minnesota Public Benefit Corporation Legislation

A bill has been introduced to bring public benefit corporations to Minnesota. The public benefit corporation is a relatively recent legal innovation that occupies a hybrid position between a traditional corporation and a...more

Why Tax-Exempt Organizations Should Plan for Joint Ventures

Non-profit organizations, which are exempt from federal income tax under Internal Revenue Code section 501(c)(3) (each a “Tax- Exempt Organization”), may find it necessary or beneficial for their operational goals to enter...more

The Waiting Game: What to Do (and Not Do) While an Exemption Application is Pending

So, you have thoughtfully and thoroughly prepared the Form 1023 Application for Recognition of Exemption Under Section 501(c)(3) (“Form 1023” or “application”) on behalf of a charity, and filed it with the IRS along with a...more

Perspectives - April, 2014

In This Issue: - Making Our Downtown Better Every Day - It's Good To "B" In Deleware - The Wonderful World of Limited Liability Companies - Ohio Bill to Allow Schools and Camps to Procure Epinephrine...more

Proposed Tax Code Overhaul Introduced with the Tax Reform Act of 2014

On February 26, 2014, House Ways and Means Committee Chairman Dave Camp released draft (the "Discussion Draft”) that would substantially reform the current U.S. Tax Code (the “Code”). The Discussion Draft contains numerous...more

Top 5 Nonprofit Legal Issues of the Past Year

The IRS scandal, diverting assets, ethics and more – the annual list of issues that affected associations and nonprofits in the past year. 1. Nonprofit corporation law changes New York and the District of...more

Recent Amendments to New York’s Not-For-Profit Corporations Law

Time to Update Your Corporate Bylaws? New York Gov. Andrew Cuomo signed the New York Non-Profit Revitalization Act of 2013 (Act), into law in December 2013, thereby adopting important changes to the governance of...more

Nonprofit Insurance Coverage: You Need More Than a Directors and Officers Policy

Question: How protected is our nonprofit's board if we have directors and officers liability insurance? How can we protect our organization? Answer: Having appropriate insurance coverage—not just...more

IRS Proposes New Definition of “Political Activity” for Social Welfare Organizations

The initial comment period for the proposed regulations is drawing to a close on February 27, 2014. On November 29, 2013, the Internal Revenue Service (IRS) and the U.S. Department of the Treasury issued a Notice of...more

New York Federal Court Dismisses Derivative Suit Against Sons of Norway Executives

On February 6, the US Court for the Eastern District of New York dismissed a derivative suit against the CEO, general counsel and former international president of Sons of Norway, a fraternal organization. Former members of a...more

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