By NEO Law Group
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 […]
Economic development may not immediately come to mind as an activity that furthers a charitable purpose, but it doesn’t take long to think of circumstances where helping a depressed community in its economic development can help in the relief of poverty and distress, and in the combat of community deterioration, all of which are regarded as charitable […]
I’ll be on Nonprofit Radio this Friday at 10:30 am PT / 1:30 pm ET discussing the new overtime rules and their impact on nonprofits with host Tony Martignetti. Catch us live on Talking Alternative or a few days later on iTunes. The Department of Labor’s final overtime rule updates the salary level required for the executive, administrative, […]
I’ll be on a panel presenting a webinar for the American Bar Association titled Legal and Ethical Crowdfunding for Non-profits: Opportunities, Pitfalls, and Best Practices. Date: June 28, 2016. Time: 10:00 – 11:30 am PT / 1:00 – 2:30 pm ET. 1.50 Ethics/Professionalism CLE Credit Hours. Presenters: Michael E Adler, moderator Katherine Emily Redman Gene Takagi Hash Zahed […]
With the election year in full swing, many nonprofits have questions regarding the scope of permissible election-related and lobbying or advocacy activities organizations recognized as exempt under Internal Revenue Code Section 501(c)(3) can engage in. This post will be the first in a series discussing these issues. *** As most 501(c)(3) organizations are well aware, […]
The past week was marked by the shocking death of music icon Prince. On this Earth Day, have a listen to Purple Rain while perusing our curated nonprofit tweets of the week: Disaster Philanthropy: How to respond to Ecuador, Japan, and Myanmar earthquakes from @Regine4Disaster #philanthropy http://ow.ly/4mPuUD Omidyar Network: .@WhiteHouse’s announcement on foundation PRIs is latest data point […]
Most new charitable nonprofits other than churches will seek 501(c)(3) recognition from the IRS. Since July 2014, qualifying nonprofits have been able to apply for recognition of 501(c)(3) tax-exempt status using either Form 1023 or the much simpler Form 1023-EZ. While Form 1023-EZ has since become the more popular application form, it may not always be the […]
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 […]
Below are some of my predictions of events and trends that will impact the nonprofit sector in 2016 and beyond. Last year, while noting that good prognosticators have to go beyond stating obvious trends, I made only one prediction: “Nonprofits will increasingly recognize the importance of understanding and responding to the for-profit social enterprise movement.” […]
An eventful year for the world, the sector, and for us at NEO Law Group. Some of my firsts: participating at Burning Man (one of our favorite clients), rapping at Independent Sector’s Annual Conference, and attending SOCAP. Here is the best stuff from the NEO Law Group over the past year: Blog Posts General Why Are Charities Tax-Exempt? – […]