Late last year, the Internal Revenue Service (“IRS”) issued a letter ruling, PLR 201446025, providing that, in certain instances, a nonprofit corporation exempt under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and incorporated in State
Not For Profit/Exempt Organizations Blog
The Not For Profit/Exempt Organizations Blog, published by Proskauer Rose LLP, focuses on legal developments affecting nonprofit and tax-exempt entities. It covers topics such as compliance with diversity, equity, and inclusion (DEI) regulations, tax law changes impacting charitable organizations, unrelated business taxable income (UBTI) issues, and litigation involving nonprofit status and exemptions. The blog also addresses regulatory updates, governance challenges, and operational considerations for nonprofits, including healthcare providers and educational institutions. It provides analysis of court decisions, legislative proposals, and administrative guidance relevant to exempt organizations and their tax treatment.
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Recaps from Proskauer’s 19th Annual Trick or Treat Tax Exempt Seminar
Proskauer’s 19th Annual Trick or Treat Seminar was held on Friday, October 31.
The Seminar discussed:
- Charitable giving techniques
- Labor and employment issues with using volunteers and interns
- Recent developments in employee benefits
In her introductory remarks, Amanda Nussbaum discussed recent tax developments,…
Proskauer Lawyers Across the Globe Work to Help the Children of Cambodia
By Vivian Ho
Our work on behalf of our client, Angkor Hospital for Children (“AHC”), in Siem Reap, Cambodia, reached a milestone with a New York Supreme Court order on September 15, 2014, transferring all the assets from a New York not-for-profit organization,…
Advisory Committee on Tax Exempt and Government Entities Makes Recommendations on Reporting of Unrelated Business Taxable Income
By Jamie Bowles
The Advisory Committee on Tax Exempt and Government Entities (“ACT”), an IRS advisory panel, made several recommendations on issues relating to unrelated business taxable income (“UBTI”) in its annual report to the IRS (the “Report”). In recent years, the IRS has…
Rollout Challenges for New York Nonprofit Revitalization Act, Effective July 1, 2014
By Jamie Bowles
The rollout of the New York Nonprofit Revitalization Act of 2013 (the “Revitalization Act”), effective July 1, 2014, is causing challenges for many New York charities as the compliance date approaches. For more information on the challenges resulting from the…
New York Court Strikes Down Regulations Limiting Executive Compensation and Administrative Expenses
A New York court has held that the State’s regulatory limits on executive compensation and administrative expenses for entities that receive state funds unconstitutionally exceed proper regulatory authority. The regulations, which implemented a 2012 executive order by Governor Andrew Cuomo…
IRS Issues Interim Guidance for Type III Supporting Organizations
By Jamie Bowles
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 2012, the IRS issued final and temporary regulations that, among other…
IRS Introduces New Procedures for Reinstatement of Tax-Exempt Status
By Amy Zelcer
Tax-exempt organizations that have had their tax-exempt status automatically revoked because of failure to file required annual returns for three consecutive years can follow new procedures for seeking reinstatement of their tax exemptions. The IRS released these procedures in Revenue…
Appointment and Authority of Committees Under the New York Not-for-Profit Corporation Law
Under the Not-for-Profit Corporation Law (“NPCL”) it is relatively clear that (i) any committee with corporate authority must be comprised only of trustees, and (ii) committees must be appointed by the board, and not, for example, by the chair (other…
Governor Cuomo Signs New York Non-Profit Revitalization Act of 2013
The New York Non-Profit Revitalization Act of 2013 (the “Act”), which was passed by the New York State legislature in June, was signed into law by Governor Andrew Cuomo last week. The Act seeks to modernize the New York…