By NEO Law Group
A 501(c)(3) organization is presumed to be a private foundation unless it qualifies as a public charity. As discussed in a previous post and on our short YouTube clip, public charity classification is generally far more advantageous due to the burdensome rules and restrictions applicable to private foundations. Most 501(c)(3) organizations qualify as public charities under Section […]
The legal duties of a board member go beyond ensuring that the organization complies with applicable law. A board member must act with reasonable care and good faith in the best interests of the organization. The best interests of a 501(3)(3) organization are related to its performance of its charitable, educational, religious or other qualifying exempt purpose. […]
A Section 501(c)(3) exempt organization is presumed to be a private foundation unless it qualifies as a public charity. The distinction between the private foundation and public charity classification may be critical for organizational leaders to understand, as public charity status is generally far more advantageous when there is a choice. Since private foundations are […]
Donor advised funds are an increasingly popular mechanism for individuals with charitable objectives who want to make a deductible charitable contribution in one year but make charitable distributions (grants) over a period of years. They are often recommended to such individuals as a preferable alternative to starting a private foundation. In general, a donor advised fund […]
Predictions for the new year – love ’em or hate ’em – they’re difficult to do well. Good prognosticators have to go beyond stating obvious trends but without being careless. I’ve tried this once before (see 2008: Policy & Random Predictions by Gene Takagi, Esq.), and it’s instructive to look back. So, for 2015, I’ll note just […]
Erin and I attended the 18th Annual Western Conference on Tax-Exempt Organizations (WCTEO) co-sponsored by Loyola Law School and the UCLA School of Law, Lowell Milken Institute for Business Law and Policy on November 20 and 21. Here are highlights of some of the great sessions: Washington Update. Ruth Madrigal, U.S. Treasury, walked us through […]
I had a great time attending and (for the first time) presenting at the 17th Annual Western Conference on Tax-Exempt Organizations (WCTEO) co-sponsored by Loyola Law School and the IRS on November 21 and 22. I was honored to be presenting with some of the country’s leading nonprofit and tax law experts. Special thanks to […]
"The poor is not them, the poor is us." – Robert Reich Our friends at the California Association of Nonprofits held their Annual Convention this Thursday in San Francisco. The Convention featured former Secretary of Labor Robert Reich; Jeanne Bell, CEO of CompassPoint; Emmett Carson, CEO of the Silicon Valley Community Foundation; Pete Manzo, CEO […]
On June 17, 2013, the CEOs of GuideStar, Charity Navigator, and BBB Wise Giving Alliance signed a letter to the Donors of America denouncing the “overhead ratio” as a valid indicator of nonprofit performance. Leading commentators applauded the move even while some noted that charity ratings organizations, like some of the signatories to the […]
Highlights from the morning sessions of Day Two of the 2013 Private Foundation National Conference in Seattle below. BREAKING NEWS: Greg Colvin's Committee housed within Public Citizen drafted a proposal on clarifying IRS rules on political intervention. See Bright Lines Project (just published yesterday). Direct Charitable Activities – Jody Blazek and Jane Searing A […]