Nonprofits General Business

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Texas Supreme Court grants review in seven cases (2/15)

The seven cases include issues about the following topics: - breach-of-contract issues under a gas-purchase agreement - applicability of the open-records laws to a nonprofit entity ...more

Tax Policy Update

NUMBER OF THE WEEK: 3,415. The number of people who renounced their citizenship in 2014 according to IRS data. This is one of the five highest totals on record since the U.S. Congress passed the Foreign Account Tax Compliance...more

Before Your Nonprofit Health System Considers a Merger – Three Important Board Preps

The Governing Board of every nonprofit health system considering a merger, change in control, sale or significant affiliation has a key role in the process and needs to be engaged throughout the planning, research,...more

Implications of Final Regulations Under Internal Revenue Code Section 501(r)

The Internal Revenue Service replaced proposed regulations under Section 501(r) of the Internal Revenue Code (the “Code”) with final regulations in late 2014 (the “Final Regulations”). As enacted in the Patient Protection and...more

National Association of Registered Agents and Brokers Reform Act of 2015 Signed Into Law

The National Association of Registered Agents and Brokers Reform Act of 2015 (NARAB Reform Act) amends the Gramm-Leach-Bliley Act and establishes the National Association of Registered Agents and Brokers (Association). ...more

Five Changes to the Tennessee Nonprofit Corporation Act That You Need to Know

The following are five important changes to the Tennessee Nonprofit Corporation Act (the Act) which became effective January 1, 2015: 1. Affirmative Disclosure Requirement to Report Up the Chain of Command; 2....more

Health Law Alert: Medical Staff Bylaws can be an Enforceable Contract—Implications of the Recent Minnesota Supreme Court Decision

On Dec. 31, 2014, the Supreme Court of Minnesota issued its long-awaited decision in Medical Staff of Avera Marshall Regional Medical Center v. Avera Marshall. This case has drawn national attention, addressing the unanswered...more

Alabama Tax Developments – 2014 Year in Review

This SALT Alert summarizes the major legislative, judicial, and administrative developments affecting Alabama business taxpayers with respect to income, transactional, and property taxes, as well as several updates on...more

Great Lakes Ag-Tech Business Incubator Helps Entrepreneurial Farmers

State Representative Joe Haveman recently announced the State of Michigan's $500,000 contribution to the new Great Lakes Ag-Tech Business Incubator, a 501(c)(6) nonprofit. The Incubator offers specialized assistance to...more

Tame the Beast: Prepare for the Year-End Audit Now

With year-end soon rearing its ugly head, not-for-profits have a lot on their plates. For calendar-year-end organizations, preparing now for the audit that inevitably ensues after December 31st is the best way to ensure a...more

Religious Institutions Update: December 2014

Every year, religious institutions spend millions purchasing insurance of various types from insurance companies. Many will never make claims on the policies remotely equal to their annual investment in premiums. In these...more

Ancillary Joint Ventures Involving Taxable and Tax-Exempt Health Care Entities: Addressing the Chilling Effect of IRS Inaction

Tax-exempt health care systems facing growing operating costs and falling revenues frequently explore creation of ancillary joint ventures (AJVs) as vehicles to raise capital, share risk, expand coverage, and provide care...more

The Continuing Far Reach of the False Claims Act

Since 2009, when Congress preserved and expanded the reach of the False Claims Act (“FCA”) through the Fraud Enforcement and Recovery Act (“FERA”), Government contractors have seen a vast increase in FCA lawsuits and...more

High Court Affirms Theater, Church’s Entitlement to State’s “Mandatory” Property Tax Exemption

The Court of Appeals, New York’s highest court, recently published decisions in the Maetreum of Cybele v. McCoy and Merry-Go-Round Playhouse, Inc. v. Auburn cases. In these decisions, the Court affirmed that the exemptions...more

New IRS Standards for Qualified Management Contracts

A few weeks ago the Internal Revenue Service released a new notice with allows 501(c)(3) organizations with tax-exempt bonds greater flexibility in drafting their management agreements. In the past, entities with outstanding...more

IRS Provides Increased Flexibility on Management Contracts for Tax-Exempt Bond-Financed Property

On October 24, 2014, the Internal Revenue Service issued Notice 2014-67 (the “Notice”), which provides important guidance and increased flexibility for issuers and conduit borrowers of tax-exempt bonds regarding contracting...more

Qualifying for 501(c)(3) Tax Exempt Status is Tricky

The entities in the following IRS Technical Advice Memorandum and Private Letter Rulings failed to qualify for tax exempt status because they were not operated exclusively for exempt purposes. An organization must be...more

IRS Releases Guidance on Private Business Use, and ACOs and Management Contracts

On October 25, 2014, the Internal Revenue Service (the IRS) released Notice 2014-67 that provides interim guidance on (i) participation in the Medicare Shared Savings Program through an accountable care organization (ACO) and...more

Federal NFP Corporations Act: What’s Next?

Companies incorporated under the Canada Corporations Act (Part II) were required to be continued under the new Canada Not-For-Profit Corporations Act on or before October 17, 2014. Industry Canada has published a Q&A...more

Bill Aims At Clarifying Status Of Ex Officio Directors

Yesterday’s post considered the various paths to becoming a director under the California General Corporation Law. The California Nonprofit Corporation Law defines “directors” in a similar fashion but makes it clear that the...more

Unclaimed Funds: Requirements, Penalties, and Relief for Holders of Unreported Funds

“Unclaimed funds” are all intangible property (such as savings accounts, checking accounts, unclaimed wages, dividends, credit balances and many other types of outstanding checks and balances payable) unclaimed by its owner...more

Charitable contributions and the FCPA – 6 simple steps to help ensure your company is giving responsibly

As part of the growing culture of corporate social responsibility, many companies seek to give back to the communities in which they conduct business. But when the charitable giving takes place outside the United States,...more

Fee-Shifting Bylaw Developments In The Courts

Those expecting that the Delaware court, in a case involving Hemispherx, would soon address the as-applied validity of a fee-shifting bylaw may be disappointed. (As discussed in this post and this Cooley Alert, the Delaware...more

Fourth Circuit Issues Reminder to Plan Proponents: Evidentiary Support is Required for Non-Debtor Releases

While a minority of circuits, such as the Ninth Circuit (see, e.g., In re Lowenschuss, 67 F.3d 1394 (9th Cir. 1995), have reasoned that bankruptcy courts lack the authority to approve non-debtor releases based on the language...more

Key Reforms of the Russian Civil Code for Legal Entities

The changes address corporate governance, liability, and other issues. Russia continues to pursue a series of reforms to modernise its civil and commercial laws and improve the business environment. Recent amendments...more

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