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
Tax-Exempt Organizations Bulletin
The Tax-Exempt Organizations Bulletin, published by Carter Ledyard & Milburn LLP, focuses on legal issues affecting nonprofit and tax-exempt entities. It covers governance topics such as board structure, bylaws, committees, officers, and meetings, aiming to help nonprofit executives and board members align their organizational practices with current laws. The bulletin also addresses compliance considerations and practical governance challenges faced by tax-exempt organizations. While it provides general principles applicable across jurisdictions, it emphasizes the importance of state-specific legal advice. The content is designed to support effective nonprofit management and legal compliance without offering direct legal counsel.
Latest from Tax-Exempt Organizations Bulletin - Page 4
New Act Simplifies Excise Tax on Investment Income for Private Foundations
Click here to read our Client Advisory regarding the recent change to the excise tax on investment income of private foundations.
New York Attorney General and PayPal Charitable Giving Fund Enter Into Agreement to Address Lack of Transparency in Charitable Giving Campaign
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…
NY’s Stop Hacks and Improve Electronic Data Security Act (SHIELD Act) Takes Effect
New York’s “Stop Hacks and Improve Electronic Data Security Act (SHIELD Act)” (the “Act”) officially took effect on October 23, 2019. In pertinent part, the Act amends New York General Business Law (“GBS”) § 899 to expand the scope of…
Federal Court Invalidates New York Donor Disclosure Law
A federal judge has invalidated a New York state Ethics Law requiring § 501(c)(3) and § 501(c)(4) tax-exempt organizations to publicly report their donors under certain circumstances.
Background. Organizations exempt from taxation under Internal Revenue Code (“IRC”) § 501(c)(3) (charitable…
New York Attorney General Releases Guidance on Solicitation Disclosure Requirements
Effective March 2019, § 174-b of the New York Executive Law was amended to add a new requirement that any solicitation by or on behalf of a charitable organization—including any solicitation by a professional fundraiser or professional solicitor—must include a…
Court in Mayo Clinic v. U.S. Invalidates U.S. Treasury Regulation
In what may be a bellwether for future challenges to existing U.S. Treasury Regulations, on August 6, 2019 the United States District Court for the District of Minnesota in Mayo Clinic v. United States invalidated Treasury Regulation § 1.170A-9(c) on…
New Workplace Harassment Rules Increase Protections for Workers
On August 12, 2019, Governor Andrew Cuomo signed into law S.6577/A.8421 (the “Act”), providing new workplace harassment protections for New York workers. While certain provisions of the previous law applied only to employers with four or more employees, the Act…
IRS Issues Proposed Regulations and Notice in the Wake of Bullock v. IRS
On September 10, 2019, the Internal Revenue Service issued proposed updates to the information reporting regulations applicable to tax-exempt organizations. The proposed regulations generally incorporate existing statutory amendments and IRS guidance provided since the current regulations were adopted.
Among…
Private Foundation Fraud Suit Allowed to Proceed
A Manhattan Surrogate’s Court judge recently ruled that our client Radio Drama Network, Inc., a private foundation, could proceed with its lawsuit to invalidate testamentary instruments that deprived it of a $100 million bequest from its founder. For more on…