Nonprofits Finance & Banking

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Foreign Charities and the Changing Landscape of CRA Charity Audits

There has been a flurry of recent scrutiny and activity in the areas of foreign and domestic charities – few foreign charities remain on the list of qualified donees since the changes to the definition of “qualified donee” in...more

How Other NFPs Are Earning (and Keeping) Donors

One of the most frequent questions our not-for-profit clients ask us is: What are the latest techniques other NFPs are using to find new donors and keep current donors engaged? While there’s no real “secret sauce,” successful...more

IRS and Department of Treasury Release 2014-2015 Priority Guidance Plan

On August 26, 2014, the IRS and the Department of the Treasury issued the 2014-2015 Priority Guidance Plan. The Priority Guidance Plan includes 18 exempt organization law projects and four projects relating to charitable...more

LGBT-Friendly Senior Housing Planned for D.C.

This past weekend I attended an open house for Mary’s House for Older Adults, a pro bono client in northeast D.C. Mary’s House is the brainchild of Dr. Imani Woody, who plans to transform her childhood home into affordable...more

IRS Affirms Treatment of Short Sales for UBTI Purposes

Since there are many hedge funds that utilize short selling as part of their investment strategy, it is important for hedge fund investors, including tax exempt organizations, to understand the U.S. tax treatment of these...more

California Creates Exemption from Finance Lenders Law for Certain Nonprofits

The state of California amended its Finance Lenders Law in an effort to help individuals obtain access to affordable, credit-building small dollar loans. The new law makes exempt from Finance Lenders Law a nonprofit...more

Legacy Gifting: Private Foundation vs. Philanthropic Fund

Are you considering making a significant charitable legacy gift? What type of vehicle should you use? Donors often have similar goals in mind — helping a charity dear to their heart and saving on taxes. However, donors may...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

Politics and the Pulpit—Political Activity by Nevada Religious Institutions

Are you part of a church or religious organization in Nevada? If so, the subject of how ?far, or even whether the church can become involved in political activity may have crossed your ?mind. As we head into the Fall 2014...more

Ten Ways to Energize Research Organization Collaborations

Energizing Research Organization Collaborations Research collaborations that extend across organization — universities, hospitals, independent research institutes, national labs, companies, etc.— require a certain amount of...more

Charitable Solicitation Requirements are Changing in Maine

On August 1, 2014, the State of Maine will eliminate its requirement under the Charitable Solicitations Act that all fundraising consultants, known as “professional fundraising counsel,” must be licensed by the Maine...more

Benesch Perspectives - July 2014 Newsletter

In this issue: - Not-for-Profit Spotlight - Giving to Religion Trending Downward for a Decade - What You Can Learn from Giving 2014 - Is the Front Door Closing on the Parsonage...more

Wealth Management Update - August 2014

August Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The August § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

The Clock is Ticking on the SEC’s MCDC Initiative - Limited Self Reporting Window Closes September 9, 2014

The U.S. Securities and Exchange Commission (the “SEC”) has announced its Municipalities Continuing Disclosure Cooperation Initiative (the “MCDC Initiative”) for municipal issuers, conduit borrowers, other obligated persons...more

Reminder: September 9th Effective Deadline for Issuers and Underwriters to Participate in SEC’s Municipalities Continuing...

If your organization has participated in a municipal bond or other municipal security financing in the past five years, you should be aware of the Securities and Exchange Commission’s (“SEC”) Municipalities Continuing...more

SEC's MCDC Initiative - The Clock is Ticking

Not-for-profit health care providers that have borrowed on a tax-exempt basis within the last five years should be aware of the Securities and Exchange Commission’s (SEC) Municipalities Continuing Disclosure Cooperation...more

Enhancements to Florida's Solicitation of Funds Law Now Effective

In response to the Tampa Bay Times investigative story, "America's Worst Charities," Florida’s Commissioner of Agriculture Adam Putnam worked with the Florida Legislature to enact material enhancements to Florida's...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

Massachusetts AG Sues FHFA Over Foreclosure Policies

On June 2, Massachusetts Attorney General (AG) Martha Coakley filed a lawsuit against the FHFA, Fannie Mae, and Freddie Mac for allegedly violating the state’s 2012 foreclosure prevention law, which, among other things,...more

Massachusetts Sues Fannie and Freddie for Blocking Home Buybacks

Earlier this month, Massachusetts Attorney General Martha Coakley initiated an action against Fannie Mae, Freddie Mac and the Federal Housing Finance Agency for allegedly illegally impeding non-profit foreclosure buyback...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

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

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

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