By NEO Law Group
At the Council on Foundation Conference, former director of the Exempt Organizations division of the IRS Marcus Owens discussed the concept of a new form of legal entity that might be an appropriate vehicle (1) for social enterprises, and (2) to receive program-related investments – the low-profit limited liability company or L3C. The L3C would […]
On December 5, 2006, Melanie Herman, E.D. of the Nonprofit Risk Management Center, and I gave a very short presentation on insurance for the Young Nonprofit Professionals Network. I began the presentation with a discussion of liability. Liabilities Liability may be defined as a type of risk for which there is an attribution of fault […]
General Rule: No substantial part of the activities of an organization described by IRC Section 501(c)(3) may be the carrying on of propaganda or otherwise attempting to influence legislation. This general rule has unnecessarily deterred many public charities from engaging in activities to influence legislation, more commonly referred to as lobbying. A charity’s board of […]
The Panel on the Nonprofit Sector presented its Final Report to Senate Finance Committee Chairman Sen. Charles Grassley and Ranking Member Sen. Max Baucus on June 22, 2005. The report recommends more than 120 actions to be taken by Congress, the Internal Revenue Service and charitable organizations in order to strengthen the sector’s transparency, governance […]
Click here for a discussion of the difference between tax-exempt and tax-deductible on give.org’s website. Section 501(c)(3) vs. Section 170(b)(1)(A): Section 501(c)(3) organizations that are tax-exempt under Section 501(a) are defined as: "Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational […]