A charitable lead annuity trust (CLAT) is an irrevocable split-interest trust in which the income interest is to be paid over to one or more charitable organizations, in the form of an annuity, and the remainder interest is to be paid over to one or more noncharitable beneficiaries. Typically, CLATs...
Charitable Planning Today: Legislative Update Plus – Jerry McCoy
On October 21, 2009, I attended a program of the Northern California Planned Giving Council titled Charitable Planning Today: Recent Developments, Pending and Proposed Legislation, and Other Things You Should Keep in Mind presented by Jerry J. McCoy. Here are some of the highlights: Treasury's report to Congress regarding...
Fiscal Sponsorship Revisited
On October 1, 2009, I joined two esteemed exempt organization attorneys, Greg Colvin and Jill Dodd, in a panel discussion on fiscal sponsorship for the National Network of Fiscal Sponsors (NNFS) Annual Gathering. This is a fascinating area that holds great promise for philanthropy and social entrepreneurs, but first...
Top 5 Compliance Problems for 501(c)(3) Organizations
IRS exempt organizations audit manager Joe Kroll spoke at a program for the Bar Association of San Francisco yesterday and discussed five common ways charitable organizations jeopardize their 501(c)(3) tax-exempt status. Private inurement / private benefit. Lobbying and political activity. Filing requirements. Small 501(c)(3) organizations that have not previously filed...
IRS Exempt Organizations Audit Manager To Speak in SF on October 1
The Pro Bono Issues Committee, Barrister Club of the Bar Association of San Francisco is presenting a program on Tax Issues Affecting Nonprofits and the IRS on Thursday, October 1 from noon to 1:30 p.m. The program features popular speaker and IRS Exempt Organizations Audit Manager Joe Kroll. Mr....
Ellis Carter’s Top 10 Non-profit Governance Mistakes (And 5 More)
Arizona exempt organizations attorney Ellis Carter kicked off her new blog, CharityLawyer, with a great post on nonprofit governance mistakes (from a lawyer's perspective). Here's her list: Failing to understand fiduciary duties. Failing to provide effective oversight. Deference to the executive committee, board chair or the organization's founder. Micro-managing...
Nonprofit Bylaws – Common Issues
This post highlights some common issues with the bylaws of a nonprofit corporation. Basics About Bylaws Bylaws may contain any provision, not in conflict with law or the corporation’s articles of incorporation, for the management of the activities and for the conduct of the affairs of the corporation. Bylaws...
B Corporation > Nonprofit: Tactical Philanthropy Advisors
One of most well-known and respected bloggers on philanthropy, Sean Stannard-Stockton, launched a new venture on August 31: Tactical Philanthropy Advisors. Sean intends to operate as a B Corporation, but his site shows that he considered the nonprofit form. Here's his explanation of why TPA ultimately chose a for-profit structure: We...
Media Organizations: The Nonprofit Option
On August 28, 2009, at the Seize the Moment conference on ethnic and community news media sponsored by the Renaissance Journalism Center and ZeroDivide, I co-presented a program on "The Nonprofit Option." My co-presenter was Clarisa Morales Roberts, Executive Director of Independent Arts & Media, who provided a passionate operational perspective to the...
This Ramadan, Give Without Fear (But Give Wisely)
GUEST BLOG POSTThis Ramadan, Give Without Fear (But Give Wisely)By: Mazen Asbahi, Esq. American Muslims face unique and troubling challenges in trying to fulfill their religious obligations to give charity or zakat. The laws meant to serve the legitimate purpose of preventing the diversion of humanitarian aid to terrorist...