Tax-Exempt Organizations Bulletin

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NY Charities Bureau Issues Guidance for Nonprofits Conducting Virtual Meetings of Members

April 30, 2020

As discussed in our previous blog post, on April 16, 2020 New York’s Governor Cuomo issued Executive Order No. 202.18 which, among other things, modified Not-for-Profit Corporation Law (“N-PCL”) § 603 to permit annual meetings of members to be held remotely or by electronic means, effective through May 16, 2020. Absent such modification, the N-PCL explicitly permits directors to attend Board meetings by conference telephone or other electronic means (unless otherwise restricted by the…

Tax-Exempt Organizations Bulletin

Executive Order Permits Nonprofit Membership Meetings to be Held Remotely

By Ahsaki E. Benion

April 20, 2020

Section 603 (a) of the New York Not-for-Profit Corporation Law (“N-PCL”) provides that “[m]eetings of members may be held at such place, within or without this state, as may be fixed by or under the by-laws or, if not so fixed, at the office of the corporation in this state.” While the N-PCL explicitly permits directors to attend Board meetings by conference telephone or other electronic means (as long as all persons participating in the…

Tax-Exempt Organizations Bulletin

SBA Unable to Accept New Coronavirus Relief Loan Applications

By Ahsaki E. Benion

April 16, 2020

In our previous blog post, we discussed relief available for nonprofits under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “Act”). As described, the Act authorizes up to $349 billion for general business loans available to certain exempt organizations under the Paycheck Protection Program (“PPP”), and provides for Economic Injury Disaster Loan (“EIDL”) assistance to states to make loans available to businesses, including private, nonprofit organizations, to help alleviate economic injury caused…

Tax-Exempt Organizations Bulletin

N.Y. Charities Bureau Extends CHAR500 Filing Deadline and Releases Guidance for Nonprofits

By Ahsaki E. Benion

April 15, 2020

Most organizations that hold assets and/or conduct activities for charitable purposes in New York are required to register with the New York State Attorney General’s Charities Bureau pursuant to the NY Estates, Powers and Trusts Law (“EPTL”). Organizations that solicit charitable contributions (including grants from foundations and government grants) in New York are generally required to register with the Charities Bureau pursuant Article 7-A of the Executive Law. Organizations required to register with the Charities…

Tax-Exempt Organizations Bulletin

Relief for Nonprofits Under the CARES Act

By Ahsaki E. Benion

April 10, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act offers relief for businesses facing economic challenges due to the outbreak of coronavirus disease (COVID–19). Certain provisions of the Act expressly extend relief to organizations exempt from taxation under the Internal Revenue Code (the “Code”) and create incentives for charitable giving. Click here to read our Client Advisory analyzing the Act.…

Tax-Exempt Organizations Bulletin

TEO Bulletin Authors Present at PLI’s Advising Nonprofit Organizations 2020 Program

By Ahsaki E. Benion

February 28, 2020

TEO Bulletin author Pamela Mann recently led Practicising Law Institute’s full-day Advising Nonprofit Organizations 2020 continuing legal education program. Presenters also included fellow TEO Bulletin author Ahsaki Benion and chief of the New York Attorney General’s Charities Bureau James G. Sheehan. The program examined federal and state laws and regulations affecting nonprofits, as well as new challenges and practical solutions for overcoming those challenges. Click here to learn more about the program, which is also…

Tax-Exempt Organizations Bulletin

Expenses for Qualified Transportation Benefits No Longer Taxable as Unrelated Business Income

By Ahsaki E. Benion

February 14, 2020

On December 20, 2019, the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the “Act”) was signed into law as part of a larger appropriations bill. Among other things, the Act repeals a provision of the Tax Cuts and Jobs Act of 2017 (the “TCJA”) that rendered a tax-exempt organization’s expenses related to qualified transportation fringe benefits taxable as unrelated business income. Unrelated business taxable income, or “UBTI,” is defined as gross income derived…

Tax-Exempt Organizations Bulletin

Electronic Filing Now Required for IRS Form 1023 Exemption Application

By Ahsaki E. Benion

February 7, 2020

Pursuant to IRS Rev. Proc. 2020-8, as of January 31, 2020, a Form 1023 Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code—which is used to apply for recognition of tax exemption as an entity described in § 501(c)(3)—may only be submitted electronically through Pay.gov, along with the required $600 user fee. According to the IRS, the change is intended to reduce errors, provide a more efficient application process,…

Tax-Exempt Organizations Bulletin

New Act Simplifies Excise Tax on Investment Income for Private Foundations

By Ahsaki E. Benion

January 27, 2020

Click here to read our Client Advisory regarding the recent change to the excise tax on investment income of private foundations.…

Tax-Exempt Organizations Bulletin

New York Attorney General and PayPal Charitable Giving Fund Enter Into Agreement to Address Lack of Transparency in Charitable Giving Campaign

By Ahsaki E. Benion

January 22, 2020

On January 14, 2020, the New York Attorney General entered into an Assurance of Discontinuance (the “Settlement”) with PayPal Charitable Giving Fund (“PPGF”)—PayPal, Inc.’s charitable giving arm—to resolve issues raised during an investigation into PPGF’s 2016 giving campaign. The Settlement highlights the importance of adequate disclosure and vetting for third-party fundraising platforms that solicit charitable funds online. PPGF is a 501(c)(3) nonprofit corporation that does business throughout the United States. It functions as a third-party…

Tax-Exempt Organizations Bulletin

Blog Authors

NY Charities Bureau Issues Guidance for Nonprofits Conducting Virtual Meetings of Members

Executive Order Permits Nonprofit Membership Meetings to be Held Remotely

SBA Unable to Accept New Coronavirus Relief Loan Applications

N.Y. Charities Bureau Extends CHAR500 Filing Deadline and Releases Guidance for Nonprofits

Relief for Nonprofits Under the CARES Act

TEO Bulletin Authors Present at PLI’s Advising Nonprofit Organizations 2020 Program

Expenses for Qualified Transportation Benefits No Longer Taxable as Unrelated Business Income

Electronic Filing Now Required for IRS Form 1023 Exemption Application

New Act Simplifies Excise Tax on Investment Income for Private Foundations

New York Attorney General and PayPal Charitable Giving Fund Enter Into Agreement to Address Lack of Transparency in Charitable Giving Campaign

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