501(c)(3)

News & Analysis as of

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 Attempts to Simplify the Application Process for Certain 501(c)(3) Organizations, but is “EZ” Better?

On July 1, 2014, the Internal Revenue Service (“IRS”) released Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code (“Code”)....more

Compliance with Internal Revenue Code §501(r) – the IRS (and Others) are Watching

Two public interest groups recently filed a complaint (Complaint) with the IRS claiming that Jackson Health System (JHS) failed to comply with the requirements of Internal Revenue Code (IRC) § 501(r) as enacted as part of the...more

Mission Creep Costs A Section 501(c)(3) Organization Its Exemption

A change in function of a Section 501(c)(3) organization results in the IRS revoking its exemption. To receive Section 501(c)(3) status, exempt organizations apply for exemption from the IRS. The exemption application...more

Booster Club's Revenues: Supportive of a Charity or Reducing Parental Obligations? - Tax Court Finds Substantial Private Inurement...

Booster clubs have long been used as fundraising arms for affiliated sports organizations. Establishing a booster club as a 501(c)(3) public charity provides the added benefit of enabling contributors to booster clubs to...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

Religious Institutions: August 2014

If the Internal Revenue Service (IRS) had a moratorium on enforcing §501(c)(3) electioneering restrictions against churches and religious organizations, the IRS states that it has been lifted incident to the settlement and...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

IRS’ New Form 1023-EZ Streamlines 501(c)(3) Applications

Streamlined? Easy? Rarely are these two words used to describe activities by the Internal Revenue Service. However, the regulatory landscape for small nonprofits seeking exempt status is changing, and on July 1, 2014, the...more

Is Your Charity Eligible? IRS Makes Filing For Tax Exemption Easier.

What is Form 1023-EZ? - On July 1, 2014, the Internal Revenue Service introduced a new, shorter application for smaller charities to apply for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. ...more

New Streamlined Application Process for Tax Exempt Organizations Approved

On July 1, 2014, the Internal Revenue Service (IRS) radically changed the way nonprofits apply for exempt status by introducing the 1023-EZ form, an alternative process for applying for §501 (c) (3) tax- exempt status. As we...more

Are You Eligible? IRS Releases Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the...

On July 1, 2014, the Internal Revenue Service ("IRS") released the much anticipated Form 1023-EZ, a shorter application that provides a quicker, more streamlined process for smaller organizations applying for recognition of...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

Tax Law Blog: New Simplified Application Form for Small Nonprofits

The IRS is releasing a new Form 1023-EZ, a simpler form of the regular Form 1023 used to apply for tax-exempt status as a 501(c)(3) organization. The form is available to small organizations, specifically those with less than...more

Rules Tax-Exempt Health Care Organizations Need to Know

It’s that time again – another election year. And if your organization is exempt under Section 501(c)(3) of the Code (“Exempt Organization” or “EO”), the EO cannot participate in, or intervene in, any political campaign on...more

Short-Form Form 1023 Out By Summer

Most organizations seeking Code §501(c)(3) tax-exempt status must file a 25+ page Form 1023 application. In a major change to this time-consuming procedure, the IRS will soon be issuing a short form three page Form 1023-EZ...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

IRS Issues New Guidance for Exempt Hospitals: Proposed Procedures for Correcting and Disclosing Violations of Section 501(r)

The IRS has issued new guidance to assist Section 501(c)(3) nonprofit hospital organizations in complying with the requirements of Section 501(r), enacted by the Affordable Care Act. ...more

Tax Law Blog: Interactive Form to Assist in Applying for 501(c)(3) Status

The IRS has started a "Stay Exempt" program for exempt organizations to assist in applying for and maintaining tax-exempt status. The website has tips and links to resources and online training videos in an effort to "ensure...more

IRS Issues Updated Guidance for Vehicle Donations

We’ve all heard and read the radio and newspaper ads that encourage donors to contribute their vehicles to charity. The advertisements attempt to convince donors to donate their old “jalopies” (whether they run or not) and...more

New York City Real Property Tax Exemption is Not Guaranteed for Not-for-Profit Organizations

Not-for-profit (NFP) organizations owning real property in New York City must meet certain ownership, purpose, and use requirements in order to qualify for real property tax exemption. NFP organizations often mistakenly...more

IRS Issues Proposed Regulations for Section 501(c)(3) Tax-Exempt Hospitals Regarding the Community Health Needs Assessment...

On April 5, 2013, the Internal Revenue Service ("IRS") published proposed regulations ("Proposed Regulations") providing guidance regarding certain aspects of Section 501(r) of the Internal Revenue Code ("Code"), which...more

Nonprofit “To Do List” for 2013

Whether you run a nonprofit or serve on the board, you have a responsibility to make sure your organization is both in compliance and in shape to weather any storm or to take advantage of growth opportunities. But with...more

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