Charitable Organizations

News & Analysis as of

IRS to Update 1967 Revenue Ruling Relating to Change of Domicile

The Internal Revenue Service (the “IRS”) has announced plans to update Revenue Ruling 67-390, which requires an organization to “re-apply” for tax-exemption if it changes its corporate structure, including in situations...more

Three Key Takeaways from the Nu Skin FCPA Settlement for a Corrupt Charitable Donation

In a rare enforcement action, the SEC settled an FCPA enforcement action for $766,000 for a charitable donation of $154,000 to improperly influence a high-ranking Chiese Communist party official to prevent a provincial agency...more

Recent Governance and Gift-Giving Guidance from the Non-Profit/Public Charities Division

The Non-Profit Organizations/Public Charities Division of the Office of the Attorney General (the “Division”) recently released helpful guidance regarding (i) good governance of charitable organization and (ii) the rules that...more

Philanthropic Planning

As an estate planning attorney, I have the opportunity to help people every day. Working with clients to craft an estate plan to transition their assets to their family members and friends is very rewarding. Not infrequently,...more

Enforcing Charitable Pledges: New York’s Shifting Landscape

On August 24, 2016, it was widely reported in the business media that Duke University had filed a claim against the estate of Aubrey McLendon, the former CEO of Chesapeake Energy Corp., who died in March 2016. The claim was...more

The next chapter - A new bond linking financial returns to environmental or social goals could thrive. But securities law...

Shakespeare’s Juliet may not have ascribed great significance to a name but for securities lawyers and market participants alike there is significance to nomenclature. Social impact bonds, or investments that are intended to...more

Investing Private Foundation Assets: What Every Foundation Manager Should Know

Those responsible for managing a private foundation’s investment assets may not always understand the unique fiduciary and tax constraints imposed on private foundations and their managers by both state and federal law....more

The House Ways and Means Committee is looking at Endowments

The House Ways and Means Committee’s Subcommittee on Oversight Chairman Peter Roskam announced that the Subcommittee will hold a hearing on college and university endowments. The hearing is entitled “Back to School: A Review...more

Cy Pres Standard Dispute Settled With Reasonable Approximation

The District Court for the Southern District of New York recently addressed whether the “next best” or “reasonable approximation” standard should apply when the court evaluates proposed cy pres designations in class action...more

Looming Registration and Reporting Deadlines for Nonprofit Raffles: September 1 and October 1

Many charities embrace raffles as a fun and lucrative way to raise money. A lot of them aren't aware that raffles constitute illegal gambling, unless the requirements of the Penal Code are met. If not, the charity is...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

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

New IRS Guidance Allows More People to Use Charitable Trusts

Have you heard? More people can now use charitable remainder annuity trusts thanks to new IRS guidance in the form of Revenue Procedure 2016-42, issued recently....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

Illinois Appellate Court finds FOIA does not apply to the IHSA and School District cannot be used to obtain non-public records...

Recently, the Illinois Appellate Court (First District) issued its decision in Better Government Association v. Illinois High School Association and Consolidated High School District 230 affirming the lower court’s dismissal...more

IRS Notice Provides Support for Socially Responsible Investing by Private Foundations

In recent years, private foundations increasingly have sought to incorporate socially responsible investing (“SRI”) mandates. Some SRI mandates take the form of negative screens—e.g., screening out tobacco stocks. Other SRI...more

October 1 Compliance Deadline for Section 501(R) Regulations

Is your hospital one of the hundreds of charitable hospitals with fiscal years ending Sept. 30? If so, your hospital has only a short amount of time to put in place policies and procedures to comply with the regulations under...more

IRS makes exempt organizations’ Form 990 data available in machine-readable format

On June 16, 2016, the IRS announced that it will be making Form 990s available in machine-readable format through Amazon Web Services. While this information has always been available to the public, it was previously only...more

Maintain Separation Between A Nonprofit And The Foundation That Supports It

A nonprofit corporation is a business with assets and liabilities just like any other business. When a nonprofit runs into financial trouble, its creditors usually do the same thing as creditors of a for-profit business: ...more

501(c)(3)s and the 2016 Federal Election: Do You Know What Your Employees Are Doing?

As the 2016 presidential primary season proceeds, we are quickly approaching the summer conventions and the November presidential election. With the political contests becoming more heated, this post is part of a new series...more

Proposed Disregarded Entity Regulations: Potential Implications for Charities

On May 10, 2016, the Internal Revenue Service (“IRS”) published proposed regulations that would impose additional reporting and record-keeping requirements on domestic “disregarded entities” that are wholly owned (directly or...more

Class Action Lawsuit Seeks Payments from All Illinois Hospitals for Unconstitutional Tax Exemption

You can add one more lawsuit to the mountain of litigation concerning how and when Illinois hospitals are entitled to a property tax exemption. Earlier this month a limited partnership filed a class action lawsuit naming...more

New York Non-Profit Revitalization Act Reforms Governance Rules for Nonprofits

Signed into law in 2013, the New York Non-Profit Revitalization Act is designed to reform the statutory requirements for governance of nonprofit organizations (both not-for-profit corporations and wholly charitable trusts),...more

EO Update: e-News for Charities & Nonprofits

..IRS Announcement 2016-17: Limited Penalty Relief for Filers of Form 1098-T, Tuition Statement ..Register for IRS May 12 webinar: Reporting Compensation on Form 990 and Form 990-EZ ..Register for IRS May 19...more

$250,000 fine against school board may be largest-ever against not-for-profit organization in Ontario

A school board has been handed a $250,000 fine under the Ontario Occupational Health and Safety Act after the death of maintenance worker. The maintenance worker had been assigned the task of replacing a safety cage on a...more

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