By NEO Law Group
The 27th Annual Western Conference on Tax-Exempt Organizations (WCTEO), my #1 go-to conference every year for the past 18 years, will be held on February 29 and March 1, 2024 at The California Endowment’s Center for Healthy Communities in Downtown Los Angeles. This year, due to high demand, this...
Karl Mill of the Mill Law Center and I will be presenting a Continuing Legal Education / Continuing Professional Education (CLE/CPE) webinar for Strafford on the recently proposed donor advised fund (DAF) regulations. You can watch live on Tuesday, February 6, 2024, at 10 am to 11:30 am PST...
On November 13, 2023, the Internal Revenue Service and Treasury Department released proposed regulations on donor advised funds (DAFs). We’ve been waiting on DAF regulations for more than 15 years since enactment of the DAF laws in the Pension Protection Act of 2006. During this period, DAFs have become...
This post continues the story from Part One and is inspired by some of the drama involving OpenAI. In Part One, the board of a nonprofit that also served as the manager of a joint venture (JV) with several investors was dealing with a dilemma. On one hand they...
Imagine a charitable nonprofit whose mission is to educate people on the dangers of vaping. The board members, including the founder, want to advance the mission by producing and distributing a documentary film. An individual who recently lost their child to throat cancer wants to donate $2 million to...
Final regulations for Type I and Type III supporting organizations became effective on October 16, 2023. The document published in the Federal Register with the regulations provides a helpful summary and background of the laws regarding Type I and Type III supporting organizations. In this post, we’ll focus on...
NGOsource, described as a project of the Council on Foundations and TechSoup, celebrates its 10th year this year. NGOsource helps U.S. grantmakers streamline their international giving through easier equivalency determinations. Private foundations that make a grant to a foreign organization without an IRS determination letter providing that it is...
Here are more highlights from the American Bar Association Exempt Organizations Committee meeting held on October 17, 2023 as part of the ABA Virtual 2023 Fall Tax Meeting. Part One is available here. Subcommittee on Audits, Appeals & Litigation; Private Foundations, International Philanthropy & UBIT Mayo Clinic case. See...
Here are some of the highlights from the American Bar Association Exempt Organizations Committee meeting held on October 17, 2023 as part of the ABA Virtual 2023 Fall Tax Meeting. Part Two to follow next week. Subcommittee on Political & Lobbying Activities of Exempt Organizations Advocacy on the Selection...
Charitable purposes under IRC Section 501(c)(3) include the promotion of social welfare by organizations designed to lessen neighborhood tensions. See Treas. Reg. 1.501(c)(3)-1(d)(2) (promulgated in 1959). The IRS Exempt Organizations Technical Guide: TG 3-3 Exempt Purpose, Charitable IRC 501(c)(3) (rev. 3/20/23) provides the following description: Related Charitable Purposes Charitable purposes also...