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Should nonprofits use LLCs in connection with their operations? For nonprofit leaders seeking creative, cost-effective, and risk mitigation options, the LLC option may warrant a careful evaluation. |
Facebook owners Mark Zuckerberg and Priscilla Chan recently announced the largest philanthropic initiative in history, accompanying the news of their daughter’s birth. They plan to devote about 99% of the shares they own in Facebook, which today... |
The following article is provided courtesy of Cathedral Consulting Group, LLC, a Milwaukee-based firm that helps small and mid-sized nonprofit organizations and private companies to grow their enterprises through the implementation of best practi... |
Innovative nonprofit leaders frequently leverage so-called “multicorporate structures” to achieve multiple beneficial objectives. May nonprofit corporations do so, such as through forming subsidiaries? If so, when, and why? What are the liability... |
Beginning next week, Wagenmaker & Oberly, LLC will be moving to our new office location. Located in the historic and iconic Monadnock building, our new facilities will provide the firm with ample room for its continued development and growth. I... |
The August 12, 2013 edition of the National Catholic Register reports continuing IRS scrutiny of pro-life organizations, despite the recent public outcry over the IRS’ targeting of conservative groups. The article featured comments made by attor... |
May a Section 501(c)(3) nonprofit engage in business operations to generate revenue? Such organizations often brainstorm creative solutions to accomplish their charitable purposes and ensure revenue is sufficient to support their charitable ende... |
Has your nonprofit ever engaged in joint activities with a business, perhaps with resulting revenues? Such arrangements are increasingly common for many Section 501(c)(3) organizations. A key legal requirement is that the tax-exempt organization... |
Nonprofit corporations are creatures of state law for corporate status and operations, while also subject to federal law for tax-exempt purposes. Under which state law should a nonprofit incorporate, and what other state corporate requirements s... |
The U.S. Corporate Transparency Act requires the provision of “beneficial owner” information to FinCEN. Surprisingly, it applies to certain nonprofits. |
On December 23, 2024, the Fifth Circuit Court of Appeals halted the trial court’s injunction of the Corporate Transparency Act. For now, BOI reporting thus remains in place. |
Is it possible for a business to both maximize value for its owners and prioritize social improvement? Traditionally, business founders have been forced to choose one or other. Taxable limited liability companies (LLCs), partnerships, and corpora... | Jonathan Atkinson
Obtaining tax exemption just got easier for some nonprofit organizations. On July 1, 2014, the IRS began accepting the Form 1023-EZ, a streamlined application for exemption from federal income tax under Internal Revenue Code Section 501(c)(3). ... |
When nonprofit leaders speak with or exchange emails with that nonprofit’s lawyers, are such conversations subject to attorney-client privilege? How do both the nonprofit leader and the attorney know? More broadly, how do third parties understand... |
What could a nonprofit public charity of modest means have in common with National Geographic Society and 21st Century Fox? Plenty, if the nonprofit teams up financially with a business for charitable ventures, such as to promote media projects,... |
According to this newly issued IRS decision (IRS Denial 201645017; UIL Code 501.30-00; released Nov. 4, 2016), the coffee shop asserted it was formed for religious purposes, for example, to proclaim the Christian gospel, promote Bible study and p... |
Is your nonprofit subject to a COVID vaccine requirement for its employees? In the last few months, such “mandates” have been issued for “large” employers (i.e., with at least 100 employees), federal contractors, federal employees, and medical wo... |
With the new federal overtime regulations becoming effective December 1, 2016, employers across the country are addressing how to calculate a salaried, non-exempt employee’s overtime wages. |
The State of Texas isn’t bound by the DOL’s exempt salary threshold increase, per a new court ruling. Is that a bellwether for other employers too? |
Is your nonprofit legally compliant? A legal check-up can help through corporate governance, tax, risk management, and employment legal considerations. |