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Nonprofits Updates

Read need-to-know updates, commentary, and analysis on Nonprofits issues written by leading professionals.

Making Sure the Good Deed Goes Unpunished: Navigating Director and Officer Liability Insurance for Community Associations

by Ward and Smith, P.A. on

A community or property owner association ("Association") acts through board members and officers who are volunteers and are generally willing to serve because they care about their communities. But in this day and age,...more

IRS Expands Remedial Action for Nonqualified Use of Tax-Advantaged Bonds

The IRS on April 11, 2018 released Revenue Procedure 2018-26 (Rev. Proc. 2018-26), which expands remedial action options in connection with certain post-issuance leases to private parties of facilities financed with...more

The New York State Budget: New Tax Code and Record Funding for Education

by Harris Beach PLLC on

The recent passage of the state’s budget, which took effect on April 1, 2018, aims to provide relief to the middle class to combat the change in federal tax law. New York is making a concerted effort to protect...more

RMDs: Another Concern for 403(b) Plans

by McNair Law Firm, P.A. on

Section 403(b) of the Internal Revenue Code of 1986, as amended (the “Code”) authorizes a type of retirement plan that can be sponsored by certain tax exempt organizations (e.g., a Code Section 501(c)(3) organization,...more

Political Activity in the Omnibus

The $1.3 trillion spending bill to fund the government for the remainder of FY 2018 (September 30) contained several provisions affecting campaign finance laws and regulations. Two provisions specifically prohibit the...more

Form 990 Processing Changes – Nonprofit Filers Beware!

The May 15, 2018 filing due date for the Form 990 for tax-exempt organizations operating on a calendar year is just around the corner. Organizations may file Form 8868, Application for Automatic Extension of Time to File an...more

Practical Insights on Tax Reform: Impact on Exempt Organizations

On December 22, 2017, President Trump signed into law legislation, known as the Tax Cuts and Jobs Act (“TCJA”), which is the most extensive overhaul of the United States Internal Revenue Code (the “Code”) in 30 years. In...more

Decoding the Tax Cuts and Jobs Act – Part VIII: Charitable and Tax-Exempt Organizations / Estate and Gift Taxes

by Garvey Schubert Barer on

Charitable organizations work hard to maintain exempt status. These organizations operate in a highly regulated landscape: In exchange for enjoying freedom from income taxes, they must comply with strict organizational and...more

Political Campaigns, College Campuses, and Free Speech

by Ballard Spahr LLP on

With the midterm spring primary election season looming, many educational institutions are witnessing heightened political awareness and activism among students and employees. ...more

An Update on Private Foundation Impact Investing

by Bryan Cave on

In November of 2016, Bryan Cave organized a half-day symposium examining the opportunities and legal considerations related to responsible and impact investing strategies. I participated on a panel to discuss how private...more

EO Update: e-News for Charities & Nonprofits

by Bryan Cave on

Join the IRS for a National Paycheck Checkup Thunderclap - We invite you or your group to join @IRSnews in support of the IRS Thunderclap effort promoting a national “Paycheck Checkup.” Following major tax law changes,...more

Helping the New Home for Hip Hop

by Proskauer For Good on

Our client, The Universal Hip Hop Museum, which started two years ago as a “virtual” museum, will break ground in 2019 on a new 60,000 square foot facility in the birthplace of hip hop. The museum will open to the public in...more

Tax Cuts and Jobs Act: New Tax on Nonprofit Executive Pay

by Sands Anderson PC on

For the first time, large nonprofit entities will be subject to a 21% excise tax for their top executives. Under Section 4960 of the Tax Cuts and Jobs Act, nonprofits who are tax-exempt under sections 501(c)(3) and...more

EO Update: e-News for Charities & Nonprofits

by Bryan Cave on

Use Form 1024-A to Apply for Recognition of Exemption under IRC Section 501(c)(4) - Organizations that choose to apply for recognition of exempt status under Internal Revenue Code (IRC) Section 501(a) as an organization...more

Important updates from the IRS for exempt organizations

by Bricker & Eckler LLP on

A recent Internal Revenue Service (IRS) Exempt Organizations Update included important reminders concerning updated exemption application forms and the IRS’ new user fee schedule. ...more

The Charitable Gaming Act of 2017

by Hodgson Russ LLP on

The Charitable Gaming Act of 2017 will become effective in mid-June, 2018. This new law modernizes how raffle tickets are bought and sold by charities in New York and permits raffles to be conducted “online” for the first...more

4 Things Most People Get Wrong about Abstentions

Raise your hand if you’ve ever heard or said these words: • “All those in favor, say ‘aye.’” • “All those opposed, say ‘no.’” • “Any abstentions?” And just keep your hand up there if that last question makes you...more

Provisions Under the New Tax Law that Affect Tax-Exempt Organizations

by Stoel Rives LLP on

The Tax Cuts and Jobs Act of 2018 went into effect on January 1, 2018. The new law makes some changes that affect tax-exempt (nonprofit) organizations. Except as otherwise noted, these changes are effective now and will...more

Maximizing the Value of Charitable Gifts Post-Tax Reform

by Ropes & Gray LLP on

Among the sweeping changes included in the federal tax reform legislation passed last year by Congress are various reforms that may affect the federal tax benefit of charitable giving. While the reforms discussed below will...more

New York DFS Issues New FAQs Regarding Cybersecurity Regulations

by Weiner Brodsky Kider PC on

The New York Department of Financial Services (DFS) has issued four additional Frequently Asked Questions (FAQs) concerning its cybersecurity regulations that went into effect last year....more

A Beginner’s Guide to Governing Documents & Rules

I talk a lot on this blog about Robert’s Rules. But let’s be clear that Robert’s Rules (or your parliamentary authority of choice) is not the end-all, be-all. Truth-be-told, there are many sets of rules that your organization...more

Families Find Free Legal Help With LIFT

by Proskauer For Good on

The fast pace of technological change has left the poor and unrepresented behind in many parts of America. But in New York State family courts, Proskauer lawyers are part of an exciting new pilot project spearheaded by the...more

EO Update: e-News for Charities & Nonprofits

by Bryan Cave on

The IRS reminds people seeking tax-exempt status to use the current version of forms to avoid processing delays. The current version of Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the...more

Trump’s Tax Reform: Effect on Nonprofits

by Bowditch & Dewey on

The Administration’s frenzy to pass “tax reform” created tax breaks for some—I’m looking at you, the Trump family—increased taxes for others, and confusion for everyone, at least until the IRS is able to promulgate official...more

How to Ignore Robert’s Rules and Do Your Own Thing

Does parliamentary procedure matter? Absolutely. But we all know that Robert’s Rules can really cramp your style. (Eighth wonder of the world: A parliamentarian actually admits the frustrations of procedure!) So, some good...more

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