By NEO Law Group
Last week, the IRS Tax Exempt and Government Entities (TE/GE) division issued their 2017 work plan. The document summarizes strategy and compliance from fiscal year (FY) 2016, as well as a plan for the coming FY 2017. As covered by the Nonprofit Law Blog last year, TE/GE currently focuses on 5 strategic areas for continuous […]
The National Network of Fiscal Sponsors held its Annual Gathering in Brooklyn on November 7. Approximately 100 leaders of fiscal sponsors from across the country came to learn about common issues, best practices, and new developments, and to share experiences. Fiscal sponsorship refers to a contractual relationship that allows a person, group, or taxable entity to […]
Representing nonprofit organizations can be incredibly rewarding but challenging on many levels. Last month, Gene shared the tips and traps of representing tax-exempt organizations regarding corporate, tax, and other issues in a podcast hosted by West LegalEdCenter. Here is a summary of his many enlightening and constructive points: Traps Failing to inform the client at […]
Build it and they will come. You need to create a nonprofit before you start looking for donations. Don't waste your time with a business plan. The world moves so fast, it would be useless in a few months. Just go with the flow and follow the opportunities as they come. No matter what anyone […]
One June 15, I attended Champions for Change: How to Orchestrate Strategic Level Transformations presented by Susan Meier of BoardSource for the Center for Excellence in Nonprofits. Susan began by providing us with three examples of for-profit corporations that either successfully transformed or failed to transform, setting the stage for an examination of nonprofit governance […]
What begins as a revenue generating idea for a nonprofit can sometimes develop into a larger endeavor, possibly requiring consideration of a subsidiary to house the planned activities. Many times, these are activities that mix social and business purposes, and the programs or entities that operate them are often referred to as social enterprises. The […]
The IRS Exempt Organizations Division 2011 for its Fiscal Year 2011 was released last month. The new year is a good time to review the Division’s priorities and how they might impact your organizations. The Division will support five overarching IRS focus areas: Impact of Recent Legislation. The Affordable Care Act (ACA), the Hiring Incentives to […]
An organization that is implementing or revisiting its major gifts program should take advantage of that initiative as an opportunity to weave in best practices and other preventative measures that promote legal compliance and help avoid lawsuits. Some of the considerations should include preventing donor intent disputes and communication problems, seeking the help of experts […]
The board of directors of a nonprofit corporation is generally empowered to create committees at its discretion, subject to the nonprofit corporation’s bylaws and the laws of the state of incorporation. While committees can be utilized to alleviate the board of some tasks and help increase efficiency, committee formation should not be taken lightly or […]
Improved Service to Achieve Voluntary Compliance Preparing and Helping to File the Form 990 (speeches, workshops, tax forums) Form 990-N (e-Postcard) Guidance (including proposed regulations on (i) new requirements for supporting organizations, and (ii) excise taxes on donor advised funds; and final regulations on excise taxes on prohibited tax shelter transactions and related disclosure requirements) Exempt […]
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