Search Results for: mission related investment

Private Foundation: New Rules Recognizing Mission-Related Investments

Published on: by Gene Takagi 2 Comments

On September 15, 2015, the IRS released Notice 2015-62, Investments Made for Charitable Purposes, which may provide comfort to private foundations about making mission-related investments with reasonable business care without violating the jeopardizing investments laws. It is hoped that this guidance will catalyze greater impact investing by foundations using their endowment assets. Mission-Related Investments While a mission-related investment […]

Prudent Investments: UPMIFA and Climate Change

Published on: by Gene Takagi

Charitable nonprofits organizations (“charities”) are subject to state prudent investment laws as we have previously written about here. The most important of these laws is the Uniform Prudent Management of Institutional Funds Act (UPMIFA) applicable in 49 states (all except Pennsylvania) and DC. UPMIFA and Management and Investment Factors UPMIFA describes eight factors that must […]

Charities: Prudent Investment Laws

Published on: by Gene Takagi

Charitable nonprofits organizations must comply with state prudent investment laws that apply to their investment assets. In California, as is the case in 49 of the 50 states, the Uniform Prudent Management of Institutional Funds Act (UPMIFA) sets the rules. Note that there may be some (mostly minor) variation among state laws, but we’ll specifically […]

Program-Related Investments

Published on: by Gene Takagi

Program-related investments (PRIs) are investments (different from strictly donative grants) made by private foundations in which: The primary purpose is to accomplish one or more of the foundation’s 501(c)(3) exempt purposes (other than testing for public safety), Production of income or appreciation of property is not a significant purpose, and Influencing legislation or engaging in […]

Nonprofit Radio: Earned Income & Unrelated Business Income Tax

Published on: by Gene Takagi

This month on Tony Martignetti Nonprofit Radio, Emily and I discussed with Tony the topics of earned income and the unrelated business income tax.  You can listen to a recorded version here or check it out (in a few days) on ITunes. Frequently Asked Questions Note:  To provide a more easily understandable overview, we answered these in general terms […]

IRS Releases “Governance and Related Topics – 501(c)(3) Organizations”

Published on: by Gene Takagi 1 Comment

On February 4, 2008, the IRS posted Governance and Related Topics – 501(c)(3) Organizations, a document that updates an earlier IRS discussion draft, Good Governance Practices for 501(c)(3) Organizations.  The policies and practices recommended by the IRS for a charity’s consideration are divided into the following topics: Mission Organizational Documents Governing Body Governance and Management […]

ABA 2023 BLS Meeting: Creative Philanthropy

Published on: by Gene Takagi

The American Bar Association 2023 Business Law Section Spring Meeting featured a session on Creative Philanthropy: Impact (ESG) Investing, Donor Advised Funds, Program Related Investments and More moderated by JJ Harwayne Leitner and presented by Jinna Kwak (Adler & Colvin) and Matt Topham (Gates Foundation). Here are some highlights and links to additional resources: Impact […]

5 Highlights from the ABA Exempt Organizations Committee Meeting 1/29/16

Published on: by Gene Takagi 2 Comments

x-144-15 Here are 5 highlights from the American Bar Association Exempt Organizations Committee Meeting held in Los Angeles on January 29, 2016: 1. Form 1023-EZ The IRS Tax Exempt & Governmental Entities Division (TE/GE) disagreed with the critical conclusions made by the National Taxpayer Advocate regarding the level of noncompliance by organizations filing the Form 1023-EZ […]

Top 10 Events in 2015

Published on: by Michele Berger 1 Comment

The past 12 months have featured a number of major events that have affected, and will continue to affect, the nonprofit sector. In 2015, nonprofits mobilized to help with major crises, including the almost 8.0 magnitude earthquake in Nepal, the influx of migrant and refugees seeking new homes, and the continued socio-economic and racial inequalities […]

2012 Western Conference on Tax-Exempt Organizations

Published on: by Gene Takagi

  I'll be attending the 2012 Western Conference on Tax Exempt Organizations (WCTEO) co-sponsored by Loyola Law School and the IRS on November 29 and 30. This is the must-attend conference on the West Coast for attorneys and accountants who serve the nonprofit sector. And it's always nice to have the opportunity to meet and […]