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Event Tickets May Constitute Self-Dealing

As private foundations and other charitable organizations look forward to the end of the coronavirus pandemic and the return of in-person events, it may be a good idea to review the self-dealing rules involving event tickets...more

Disclosure of 1023 and 990 Forms for Nonprofits

Tax-exempt organizations (including private foundations, which are subject to special additional disclosures) are subject to certain public disclosure rules. These rules require that the organization make its exemption...more

Charitable Planning In the Year of a Business Sale – Part 2 of 2

Part 1 of our Article addressed why a charitably-inclined client should make a gift to charity in the year of business sale. Having completed the analysis of when it is best to make a gift, some clients may hesitate to...more

End-of-Year Tax Planning for High Net Worth Individuals

We are nearing the end of calendar year 2020 (thankfully!) and it is time to consider end-of-year tax planning. Due to the outcome of the election, there is significantly more certainty about the possibility of tax law...more

Grants to Individuals: An Underused Grantmaking Technique

Many grantmakers are unaware, but private foundations can make direct grants to individuals to further the private foundation’s exempt purpose. Private foundations often focus their grantmaking programs on making grants to...more

Impact of 2020 Election Results for Tax Planning (Webinar Recap)

On Tuesday, November 3rd, Americans went to the polls and cast votes for President, Senators, and House members. In some cases, the results are still being tabulated (or subject to challenge). However, the picture becomes a...more

Comparison of Private Foundation and Donor Advised Fund

Formation - Requires formation of a new corporation or trust; must apply for IRS exempt status. Simple application and donor advised fund agreement with sponsoring organization. ...more

Mission-Related Investments under Trust Law

As explored in a previous article, the IRS clarified that mission-related investments (MRIs) will not trigger the private foundation “jeopardy investment” rule (that is, a private foundation cannot make investments that would...more

Speculation on the Content and Timing of Potential Tax Law Changes in 2021 and 2022

The November 3 election may have dramatic impacts on the income and estate tax laws. These changes could become effective as early as January 1, 2021. Of course, a big uncertainty is the outcome of the election, and whether...more

Private Foundation Grants Used to Satisfy Personal Pledges May be Self-Dealing

Private foundations are subject to special rules relating to conflicts of interest. These are called “self-dealing” rules. These rules flatly prohibit transactions between interested persons (known as “disqualified persons”)...more

IRS Announces Plans to Increase Audits on High-Net-Worth Individuals and their Related Entities

At the end of June, the Commissioner of the IRS Large Business and International Division announced a new campaign to audit high-net-worth individuals and the entities (such as partnerships, corporations, trusts, and private...more

Does an Excise Tax Apply When Company Employees Serve as Directors and Officers of the Company Foundation?

New proposed IRS regulations clarify that the tax will not apply in most cases when company officers/employees serve as directors and officers of the company foundation for no compensation from the foundation In a prior blog...more

Mission-Related Investments Validated by IRS Notice 2015-62

Foundations, like many investors, are considering how to use their assets to both provide investment return and to promote their social and charitable causes (a strategy sometimes referred to as “social impact investing”). ...more

Employer Sponsored Foundation for Coronavirus Disaster Relief and Implications for Tax Planning

As the COVID-19 pandemic continues, businesses may consider having their affiliated company foundations take the lead on providing assistance to affected employees and their families. This is permitted, but companies must...more

IRS Rules that PAC Sponsored by a For-Profit Subsidiary of a 501(c)(3) Health Care System Parent Violates Prohibition on Political...

In a January 31, 2020 private letter ruling (PLR 202005020), the IRS ruled that where a Parent 501(c)(3) non-profit organization was providing administrative services to a for-profit Subsidiary, the Subsidiary’s creation and...more

IRS Denies Exempt Status for Non-MSSP Accountable Care Organizations

In April, the IRS released a private letter ruling denying section 501(c)(3) status to an accountable care organization (“ACO”) that contracted with third-party payers outside of the Medicare Shared Savings Program (“MSSP”)....more

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