The Internal Revenue Service (IRS) and the US Department of the Treasury released final regulations on October 16 that address the changes enacted by the Pension Protection Act of 2006 (PPA). The regulations provide...more
The Pension Protection Act of 2006 made significant changes to the rules applicable to supporting organizations, and in particular Type III supporting organizations. The latest regulatory guidance from the IRS continues the...more
On February 19, 2016, the IRS and Treasury Department issued proposed regulations regarding (i) prohibitions on certain contributions to Type I and Type III supporting organizations and (ii) requirements for Type III...more
The IRS recently issued Notice 2014-4 (the “Notice”), which provides interim guidance for Type III supporting organizations seeking to qualify as functionally integrated by supporting governmental organizations. In December...more
Type III supporting organizations should take steps to comply with new regulations and funders should review due diligence procedures for grants made to these organizations. On December 21, 2012, the Internal Revenue...more
In This Issue: - Raising Funds Without Raising Problems - IRS Issues Clarification Regarding Contributions to Single-Member LLCs - Appellate Decisions Impact NY Nonprofit Chapter Organizations - The...more
Many practitioners have been anxious to leaf through regulations to confidently determine whether an organization is a “functionally integrated” or “non-functionally integrated” Type III supporting organization, and the...more