By NEO Law Group
Private foundations in the United States are often interested in funding promising organizations and projects that are based outside of the country. When doing so, these foundations are required to follow certain rules and procedures promulgated by the IRS to help ensure that the foreign grantees are properly using those funds for charitable purposes. Currently, […]
Earlier today I had the wonderful opportunity to guest lecture at Scott Curran‘s Lawyers as Social Innovators class at Chicago-Kent College of Law at the Illinois Institute of Technology. Here are my notes for the class: If you want to do good, your best bet will be to work with, or for, a nonprofit. That’s a […]
Earlier today, I had the honor of testifying at the first hearing of the Select Committee on the Non-Profit Sector. Here is my draft written testimony (some of which I omitted from my verbal testimony in the interest of time): Good afternoon Madame Chair and Members of the Select Committee. It’s a historic day marking the […]
The past week was marked by the resignation of President Trump’s national security adviser Michael Flynn under the cloud of highly suspicious and likely unlawful communications, as a private citizen, with the Russians regarding U.S. sanctions on Russia; and the Grammy Awards, which also found itself under a cloud, in this case, of cultural bias. […]
Here are some selected highlights from NEO Law Group over the past year that we hope you’ll find helpful. Blog Posts Compliance 10 Legal Tips in 30 Minutes to Get 2017 Ready New IRS Notification Requirement for 501(c)(4) Organizations – Form 8976 Nonprofit Corporation Legal Audit Nonprofit Compensation: Tips on Using Comparability Data Starting a […]
Philanthropy consultant, scholar, and thought-leader Lucy Bernholz‘s annual industry forecast, Philanthropy and the Social Economy: Blueprint 2017, was published last week on GrantCraft. The Blueprint provides an overview of the current landscape, points to major trends, and directs your attention to horizons where you can expect some important breakthroughs in the coming year. As a past external reviewer […]
The 20th annual Western Conference on Tax-Exempt Organizations (WCTEO) will take place at the Millennium Biltmore Hotel in downtown Los Angeles this Thursday and Friday, December 1-2, 2016. The WCTEO has been my top go-to conference every year since starting NEO Law Group, and I’m particularly excited about this year, my first as a member of the planning […]
The American Bar Association (ABA) Business Law Section is holding its 2016 Annual Meeting in Boston on September 8-10. I’m looking forward to meeting with my colleagues in the Nonprofit Organizations Committee, attending the various programs, and expressing my appreciation as one of the recipients of the Committee’s Outstanding Nonprofit Lawyer Awards. Accelerators and Incubators The first […]
Introduction A donor-advised fund (“DAF”) is a charitable vehicle housed within a 501(c)(3) public charity that allows a donor to make a gift, take an immediate charitable deduction, and recommend, typically with strong persuasive authority, future grants made from funds in the DAF. Unlike private foundations that require a minimum annual distribution, a DAF has […]
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 […]