Organizing and Operating Nonprofits Seminar Materials

Publication Date: April 2016
Available Formats: Print and Searchable PDF via immediate download, CD-ROM, or USB Flash Drive
Pages: 110

Information

Topics Covered:

  • The governing documents used to create and operate a Virginia nonprofit
  • How to protect against liability from operation of Virginia nonprofits
  • How to apply for tax-exempt status
  • How to meet annual reporting requirements and maintain tax exemption
  • What income is taxable despite tax-exempt status
  • Charitable-giving opportunities and regulations

This comprehensive, stand-alone publication is direct from a April 2016 seminar.

This program focuses on legal issues arising from the creation and operation of tax-exempt entities — issues that are important both for advisors to nonprofits and for board members and officers.

As the operations of nonprofits come under increasing scrutiny, it is important for such organizations and their advisors to understand fundamental legal and tax issues associated with forming and operating nonprofit organizations. Whether you are new to or experienced in this area of practice, you will benefit from listening to our two experienced professionals.


Table of Contents

I. Organizing and Operating a Virginia Nonprofit
J. William Gray

I. Threshold Question: Is a new organization necessary?

II. Types of Organizations Exempt under IRC § 501(a)

III. Choice of Entity

IV. Standards for Directors, Trustees and Managers

Appendix A: Organization Reference Chart

Appendix B: Additional Resources on Nonprofit Organizations

II. Applying for Tax-Exempt Status

Eileen Morgan Johnson

I. Nonprofit vs. tax-exempt distinctions

II. Advantages and disadvantages of tax-exempt status

III. Categories of exempt organizations

IV. Related organizations

V. Exemption application forms

VI. When to file?

VII. Form 1023

VIII. Filing requirements for small organizations

IX. Private foundation or public charity?

X. Extra Burdens of Private Foundation Status

XI. Applying for state and local exemptions

III. Maintaining Tax-Exempt Status
J. William Gray

I. UNRELATED BUSINESS INCOME TAX RULES

II. MAINTAINING NONPRIVATE FOUNDATION STATUS

III. LIMITATIONS ON POLITICAL AND LEGISLATIVE ACTIVITY

IV. ANNUAL RETURN FILING OBLIGATIONS

V. TYPES OF INFORMATION RETURNS

VI. PUBLIC DISCLOSURE OBLIGATIONS

VII. VIRGINIA STATE REGULATION OF NONPROFITS

IV. General Counsel Services
Eileen Morgan Johnson

I. Insurance

II. Statutory protections

III. Advising on operational issues

IV. Ethical issues for attorneys

V. Planned Giving Basics
J. William Gray

REASONS TO MAKE A PARTIAL INTEREST GIFT

INCOME TAX PROOF REQUIREMENTS FOR PROPERTY GIFTS

GIFTS OF PARTIAL INTERESTS

CONTRIBUTIONS TO PUBLIC CHARITIES

TIPS ON GIVING SPECIFIC KINDS OF ASSETS

EXAMPLES OF “PROBLEM” GIFT ASSETS

VI. Restructurings and Terminations
Eileen Morgan Johnson

RESTRUCTURINGS AND TERMINATIONS

I. Legal Requirements

II. Negotiations

III. Effect of a Merger or Consolidation

IV. Asset Transfers

V. Collaboration

VI. Evaluate the Merger, Consolidation or Collaboration

SPIN-OFFS AND SUBSIDIARIES

GOING OUT OF BUSINESS – DISSOLUTION

Authors

J. William Gray

Eileen Morgan Johnson

Prices

Print - $90
Download - $90
CD-ROM - $90
USB Flash Drive - $90
Both Print and CD-ROM - $115
Both Print and USB Flash Drive - $115
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