Private Foundation: New Rules Recognizing Mission-Related Investments

On September 15, 2015, the IRS released Notice 2015-62, Investments Made for Charitable Purposes, which may provide comfort to private foundations about making mission-related investments with reasonable business care without violating the jeopardizing investments laws. It is hoped that this guidance will catalyze greater impact investing by foundations using their endowment assets. Mission-Related Investments While a mission-related investment […]

Program-Related Investments

Program-related investments (PRIs) are investments (different from strictly donative grants) made by private foundations in which: The primary purpose is to accomplish one or more of the foundation’s 501(c)(3) exempt purposes (other than testing for public safety), Production of income or appreciation of property is not a significant purpose, and Influencing legislation or engaging in […]

Nonprofit Radio: Earned Income & Unrelated Business Income Tax

This month on Tony Martignetti Nonprofit Radio, Emily and I discussed with Tony the topics of earned income and the unrelated business income tax.  You can listen to a recorded version here or check it out (in a few days) on ITunes. Frequently Asked Questions Note:  To provide a more easily understandable overview, we answered these in general terms […]

IRS Releases “Governance and Related Topics – 501(c)(3) Organizations”

On February 4, 2008, the IRS posted Governance and Related Topics – 501(c)(3) Organizations, a document that updates an earlier IRS discussion draft, Good Governance Practices for 501(c)(3) Organizations.  The policies and practices recommended by the IRS for a charity’s consideration are divided into the following topics: Mission Organizational Documents Governing Body Governance and Management […]

5 Highlights from the ABA Exempt Organizations Committee Meeting 1/29/16

x-144-15 Here are 5 highlights from the American Bar Association Exempt Organizations Committee Meeting held in Los Angeles on January 29, 2016: 1. Form 1023-EZ The IRS Tax Exempt & Governmental Entities Division (TE/GE) disagreed with the critical conclusions made by the National Taxpayer Advocate regarding the level of noncompliance by organizations filing the Form 1023-EZ […]

Top 10 Events in 2015

The past 12 months have featured a number of major events that have affected, and will continue to affect, the nonprofit sector. In 2015, nonprofits mobilized to help with major crises, including the almost 8.0 magnitude earthquake in Nepal, the influx of migrant and refugees seeking new homes, and the continued socio-economic and racial inequalities […]

2012 Western Conference on Tax-Exempt Organizations

  I'll be attending the 2012 Western Conference on Tax Exempt Organizations (WCTEO) co-sponsored by Loyola Law School and the IRS on November 29 and 30. This is the must-attend conference on the West Coast for attorneys and accountants who serve the nonprofit sector. And it's always nice to have the opportunity to meet and […]

WCTEO 2019 Highlights

The following are some of the highlights from Day One of the WCTEO 2019. Washington Update Sunita Lough (IRS, Deputy Commissioner for Services and Enforcement and former commissioner of the Tax Exempt and Government Entities division) discussed the IRS’s shift to enforcement with better data analytics (to select the “right” cases). As an example, she […]

California AB 5: Employee or Independent Contractor

California’s so-called “Gig Worker Bill,” Assembly Bill 5 (AB 5), goes into effect on January 1, 2020. AB 5 modifies how workers are classified as employees or independent contractors for state law purposes and codifies the 2018 California Supreme Court decision known as Dynamex. Nonprofits that make use of independent contractors should always pay special […]

Upswell Chicago 2019

We have work to do. Let’s – Do it together. Share more knowledge. Coordinate more activities. Inspire one another. Energize one another. Heal. Make each other more comfortable. Make each other more uncomfortable. Push. Be brave. Get the job done. These were the messages from Upswell Chicago. Here is how the event was described: Upswell […]