Nonprofit Law Made Easy / Edition 1

Nonprofit Law Made Easy / Edition 1

by Bruce R. Hopkins
     
 

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ISBN-10: 0471709735

ISBN-13: 9780471709732

Pub. Date: 04/20/2005

Publisher: Wiley

Nonprofit Law Made Easy

There are more than three million nonprofit organizations in the United States. Because of the tax-exempt status nearly all nonprofits enjoy, they must comply with stringent federal and state law or risk losing this special tax-exempt status. Written by a lawyer for non-lawyers, Nonprofit Law Made Easy provides a complete legal guide for

Overview

Nonprofit Law Made Easy

There are more than three million nonprofit organizations in the United States. Because of the tax-exempt status nearly all nonprofits enjoy, they must comply with stringent federal and state law or risk losing this special tax-exempt status. Written by a lawyer for non-lawyers, Nonprofit Law Made Easy provides a complete legal guide for anyone interested in starting a nonprofit organization as well as a valuable, go-to resource for directors and officers of established organizations.

Author Bruce R. Hopkins—a leading authority on tax-exempt organizations—offers plain-language explanations of the statutes, regulations, rulings, and court decisions that apply to nonprofit organizations. Designed to get you quickly up to speed, you will discover:

  • How to handle the complex legal issues that affect the way nonprofit organizations are formed and operated
  • Invaluable information on how to avoid nonprofit law traps
  • How to manage governance and liability issues

Hopkins covers newly emerging concepts alongside such absolute basics as the private inurement doctrine, the lobbying rules, the unrelated business rules, and planned giving.

Several factors are poised to drastically affect nonprofit law, including a congressional enactment of major tax-exempt legislation, ambitious regulations and rulings projects by the IRS, and other court contributions to the law. Hopkins looks to the future of nonprofit law and addresses these issues with the insight of his world-class experience.

Covering everything you need to know to navigate the complex web of nonprofit legal issues, Nonprofit Law Made Easy explores:

  • Forming a nonprofit organization
  • Acquiring and maintaining tax-exempt status
  • Public charities and private foundations
  • Reporting requirements
  • Charitable giving
  • Disclosure requirements
  • Unrelated business activities
  • Fundraising
  • Building on the basics
  • Nonprofit law traps
  • Governance principles and liability
  • Subsidiaries
  • Joint ventures
  • And much more

Nonprofit Law Made Easy is a must-read for nonprofit board members, executive directors, senior managers, fundraisers, executives, and anyone else working toward tax compliance in the nonprofit realm.

Product Details

ISBN-13:
9780471709732
Publisher:
Wiley
Publication date:
04/20/2005
Pages:
288
Sales rank:
946,186
Product dimensions:
9.21(w) x 6.14(h) x 0.69(d)

Table of Contents

Preface.

Chapter 1 Forming a Nonprofit Organization.

A Philosophical Framework.

Defining Nonprofit Organization.

Purpose of Organization.

Location of Organization.

Selection of Organization Form.

Name of Organization.

Composition of Governing Body.

Officers and Key Employees.

Management Companies.

Minutes.

Other Documents.

Summary.

Chapter 2 Acquiring and Maintaining Tax-Exempt Status.

Concept of Tax Exemption.

Eligibility for Tax-Exempt Status.

Recognition of Tax-Exempt Status.

Categories of Tax-Exempt Organizations.

Selection of Appropriate Category.

Application Process.

Timing.

Exceptions.

Notice Requirements for Political Organizations.

Preparation of Applications.

Reliance on Determination.

Maintenance of Exempt Status.

Changes in Organizational Form.

Material Changes.

Group Exemption.

Summary.

Chapter 3 Public Charities and Private Foundations.

Defining Private Foundation.

Defining Public Charity.

What Difference Does It Make?

Disqualified Persons.

Determining Public Support—Tricks of the Trade.

Focus on Supporting Organizations.

Hybrid Foundations.

Rules for New Organizations.

Private Foundation Rules.

Termination of Status.

Donor-Advised Funds.

Summary.

Chapter 4 Reporting Requirements.

Federal Law Basics.

A Multitude of Forms.

Form 990 Glossary.

Annual Information Return—A Law Perspective.

Law Perspective on Preparation of Returns.

State Law Requirements.

Watchdog Agencies.

Summary.

Chapter 5 Charitable Giving.

Basic Concepts.

Defining Charitable Gift.

Qualified Donees.

Gifts of Property.

Limitations on Deductibility.

Deduction Reduction Rules.

Twice-Basis Deductions.

Contributions of Vehicles.

Contributions of Intellectual Property.

Partial Interest Gifts.

Gifts of Insurance.

Planned Giving.

Summary.

Chapter 6 Disclosure Requirements.

Applications for Recognition of Exemption.

Annual Information Returns.

Gift Substantiation Requirements.

Quid Pro Quo Contributions.

Disclosure by Noncharitable Organizations.

Disclosure of Gifts of Property.

Dispositions of Contributed Property.

Appraisal Requirements.

Offering of Information or Services.

Tax Shelters.

Summary.

Chapter 7 Unrelated Business Activities.

Statutory Framework.

Affected Tax-Exempt Organizations.

Conduct of Business.

Regularly Carried-On Businesses.

Related or Unrelated?

Unrelated Business Taxable Income.

Exempted Activities.

Exempted Income.

Exceptions to Exceptions.

Corporate Sponsorships.

Internet Activities.

Commerciality Doctrine.

Summary.

Chapter 8 Fundraising Regulation.

State Regulation of Fundraising.

State Charitable Solicitation Acts.

States’ Police Power.

Constitutional Law Considerations.

Federal Regulation of Fundraising.

Fundraising by Means of the Internet.

Summary.

Chapter 9 Building on the Basics.

Fundamentals of Bifurcation.

Definition of Subsidiary.

Determining Need for Subsidiary.

Legal Form of Subsidiary.

Tax-Exempt Subsidiaries.

For-Profit Subsidiaries.

Tax Treatment of Revenue from Subsidiary.

Partnerships and Joint Venture Basics.

Flow-Through Entities.

Public Charities as General Partners.

Subsidiaries in Partnerships.

Whole Entity Joint Ventures.

Ancillary Joint Ventures.

Limited Liability Companies.

Summary.

Chapter 10 Nonprofit Law Traps.

Primary Purpose Rule.

Private Inurement.

Private Benefit.

Intermediate Sanctions.

Legislative Activities.

Political Activities.

Summary.

Chapter 11 Still More Law.

Constitutional Law.

Postal Laws.

Federal Election Laws.

Securities Laws.

Antitrust Laws.

Management of Institutional Funds Act.

Other Laws.

Summary.

Chapter 12 Governance Principles and Liability.

Basics of Corporate Governance Principles.

Emerging Concepts.

Board Member Responsibilities.

Lawsuits against Nonprofit Organizations.

Individuals as Defendants.

Protection against Personal Liability.

Management Companies Revisited.

Watchdog Agencies.

Summary.

Index

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