On Tuesday, April 28, at 9 am PDT / 12 pm EDT, I’ll be on Facebook Live with Nadya K. Shmavonian (Partner, SeaChange Capital Partners.) and host Andy Davis (Associate Vice President of Member Education & Outreach, BoardSource) to discuss dissolution and mergers of nonprofits resulting the COVID-19 crisis. We’ll be responding to questions from attendees, but […]
merger
CLE: Nonprofit M&A: Potential Benefits, Risks, and Alternatives
Lara Jakubowski, a Senior Consultant at La Piana Consulting, and I will be presenting a webinar on nonprofit mergers and acquisitions, discussing benefits, risks, and alternatives on February 25, 2020 at 10 am to 11:15 am PST for Clear Law Institute. You can register here. In this practical webinar, you will learn the various ways […]
Update: New Exemption Application Not Required When Organization Changes Its Form or State of Incorporation
In the new Revenue Procedure 2018-15, effective for tax years beginning on or after January 1, 2018, the IRS has indicated that it will generally not require a new exemption application from a domestic Internal Revenue Code (“IRC”) Section 501(c) organization that changes its form or place of organization. Under prior guidance (Rev. Ruls. 67-390 […]
Dissolution and Transfer of Remaining Assets: An Alternative to Merger
Organizations may decide to merge for multiple reasons, including to better advance a common purpose or to expand the range of services offered to common beneficiaries. In a merger of two nonprofit corporations, the surviving corporation assumes all of the assets and liabilities of the disappearing (merged out) corporation. But there is an alternative way […]
Nonprofit Mergers – Due Diligence Items
I had a nice opportunity today to talk with the folks at La Piana Consulting, a national firm dedicated to strengthening nonprofits and foundations, about nonprofit mergers from a legal perspective. La Piana Consulting was founded by David La Piana, a leading expert on strategic restructuring – including mergers, joint ventures, consolidations, and joint programming […]