Joint Ventures Involving Tax-Exempt Organizations: 2011 Cumulative Supplement / Edition 3

Joint Ventures Involving Tax-Exempt Organizations: 2011 Cumulative Supplement / Edition 3

by Michael I. Sanders
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Joint Ventures Involving Tax-Exempt Organizations: 2011 Cumulative Supplement / Edition 3

Joint Ventures Involving Tax-Exempt Organizations, Third Edition, 2011 Cumulative Supplement includes the latest case law, treasury regulations, and IRS rulings to enable nonprofits to maximize their financing without jeopardizing their tax-exempt status. Written for lawyers specializing in tax-exempt organizations, particularly healthcare organizations, housing organizations and higher education institutions, this volume includes sample forms, countless footnotes, and numerous citations to case laws and Internal Revenue Code sections.

Product Details

ISBN-13: 9780470610930
Publisher: Wiley
Publication date: 05/03/2011
Edition description: 3rd Edition 2011 Cumulative Supplement
Pages: 352
Product dimensions: 6.80(w) x 9.90(h) x 0.80(d)

About the Author

Michael I. Sanders, Partner at Blank Rome LLP, focuses his practice in the area of taxation, offering particular expertise in matters affecting partnerships, limited liability companies, S-corporations, real estate and tax controversy. He also has a large practice in the area of exempt organizations involving health care and low-income housing, associations and joint ventures between for-profits and non-profits, as well as structuring New Markets Tax Credit transactions. He regularly serves as an expert witness in complex litigation.

Mr. Sanders was named by the Washington Business Journal as one of the City's Top Ten Lawyers and the City's Top Tax Lawyer in 2004. Additionally, he was presented the Israel Bonds Legal and Financial Division's Light of Jerusalem Award in November of 2005.

He was honored as one of "Washington, DC's Legal Elite" by Smart CEO Magazine for 2006 and 2007. In 2007, he was selected from a field of the nation's leading lawyers and judges as a finalist for the Lawdragon 500 based upon his current impact on the biggest issues and deals in the law. He was also recognized by Washingtonian magazine as "One of Washington's Top Lawyers" for 2007 and 2008.

Mr. Sanders is the author of Joint Ventures Involving Tax-Exempt Organizations (3rd Edition) published by John Wiley & Sons, Inc. He is also an adjunct professor at George Washington University Law Center and Georgetown University Law School teaching Income Taxation of Partnerships and Subchapter S Corporations and Tax Treatment of Charities and Other Non-Profit Organizations, Joint Ventures Involving Tax Exempt Organizations (including healthcare, universities, LIHTC, new markets, conservation organizations, respectively.

Previously, Mr. Sanders served as an Attorney-Advisor to the Assistant Secretary of Tax Policy at the Office of Tax Legislative Counsel and as a Trial Attorney at the U.S. Department of Justice (Attorney General's Honors Program).

Table of Contents

Note to the Reader: Sections not in the main bound volume, Joint Ventures Involving Tax-Exempt Organizations, Third Edition (978-0470-03761-4) are indicated by "(New)"after the title. Material from the main bound volume that has been updated for this supplement is indicated by "(Revised)" after the title.



Chapter One: Introduction: Joint Ventures Involving Exempt Organizations Generally.

§ 1.2 Joint Ventures in General.

§ 1.3 Healthcare Joint Ventures.

§ 1.4 University Joint Ventures.

§ 1.5 Low-Income Housing Joint Ventures.

§ 1.20 "Intangibles" Licensed by Nonprofit to For-Profit Subsidiary or Joint Venture.

§ 1.24 Other Developments.

Chapter Two: Taxation of Charitable Organizations.

§ 2.3 Section 501(c) Organizations: Structural Elements.

§ 2.4 Statutory Requirements.

§ 2.8 Application for Exemption.

§ 2.9 Reporting Requirements.

§ 2.9A Redesigned 2010 Form 990 (New).

§ 2.13A Focus on Good Governance (New).

Appendix 2A: Redesigned Form 990 (2010) (New).

Chapter Three: Taxation of Partnerships and Joint Ventures.

§ 3.1 Scope of Chapter.

§ 3.2 Qualifying as a Partnership.

§ 3.6 Allocation of Profits, Losses, and Credits.

§ 3.7 Formation of Partnership.

§ 3.9 Partnership Operations.

§ 3.12 Other Tax Issues.

Chapter Four: Overview: Joint Ventures Involving Exempt Organizations.

§ 4.2 Exempt Organization as a General Partner: A Historical Perspective.

§ 4.4 Joint Ventures with Other Exempt Organizations.

§ 4.5 New Scheme for Analyzing Joint Ventures.

§ 4.6 Revenue Ruling 2004-51 and Ancillary Joint Ventures.

§ 4.8 Use of a Subsidiary as Participant in a Joint Venture.

§ 4.8A Social Entrepreneurs: Operating Without Exemption (New).

§ 4.9 Use of a Supporting Organization in a Joint Venture.

§ 4.14 Reporting Requirements.

Appendix 4A: Joint Venture Checklist (Revised).

Appendix 4B: Redesigned Form 990 (2010) New Schedule R, Related Organizations and Unrelated Partnerships (New).

Appendix 4C: Model Joint Venture Participation Policy (New).

Chapter Five: Private Benefit, Private Inurement, and Excess Benefit Transactions.

§ 5.1 What Are Private Inurement and Private Benefit?

§ 5.2 Transactions in which Private Benefit or Inurement May Occur.

§ 5.4 Intermediate Sanctions.

§ 5.6 Planning.

Chapter Six: The Exempt Organization as Lender or Ground Lessor.

§ 6.1 Overview.

§ 6.4 Participating Loans.

§ 6.5 Ground Lease with Leasehold Mortgage.

§ 6.6 Sale of Undeveloped Land.

§ 6.7 Guarantees.

Chapter Seven: Exempt Organizations as Accommodating Parties in Tax Shelter Transactions.

§ 7.2 Prevention of Abusive Tax Shelters.

§ 7.3 Excise Taxes and Penalties.

Chapter Eight: The Unrelated Business Income Tax.

§ 8.1 Introduction.

§ 8.3 General Rule.

§ 8.4 Statutory Exceptions to UBIT.

§ 8.5 Modifications to UBIT.

§ 8.8 Governmental Scrutiny and Legislative Initiatives.

Chapter Nine: Debt-Financed Income.

§ 9.1 Introduction.

§ 9.2 Debt-Financed Property.

Chapter Ten: Limitation on Excess Business Holdings.

§ 10.1 Introduction.

§ 10.2 Excess Business Holdings: General Rules.

Chapter Eleven: Impact on Taxable Joint Ventures: Tax-Exempt Entity Leasing Rules.

§ 11.5 Restrictions on Tax-Exempt Use Property.

Chapter Twelve: Healthcare Entities in Joint Ventures.

§ 12.3 Tax Analysis.

§ 12.4 Other Healthcare Industry Issues.

§ 12.7 Joint Operating Agreements.

§ 12.8 UBIT Implications of Hospital Joint Ventures.

§ 12.9 Government Scrutiny.

§ 12.9A The Patient Protection and Affordable Care Act of 2010: §501(R) and Other Statutory Changes Impacting Nonprofit Hospitals (New).

Appendix 12B: Redesigned Form 990 (2009) Schedule H, Hospitals (New).

Appendix 12C: Model Joint Venture Participation Policy (New).

Chapter Thirteen: Low-Income Housing, New Markets, Rehabilitation, and Other Tax Credit Programs.

§ 13.1 Relationships Between Nonprofits and For-Profits in Affordable Housing—A Basic Business Typology.

§ 13.2 Low-Income Housing Tax Credit.

§ 13.3 Historic Investment Tax Credit.

§ 13.4 Empowerment Zone Tax Incentives.

§ 13.5 New Markets Tax Credits.

§ 13.6 Recent IRS Guidance Regarding Guarantees and Indemnifications.

§ 13.8 Gulf Opportunity Zone Act of 2005.

§ 13.9 The Energy Tax Credits (New).

Appendix 13A: New Markets Tax Credits Project Compliance/Qualification/Accounting Projections Checklist (Revised).

Chapter Fourteen: Joint Ventures with Universities.

§ 14.2 IRS Focus on Universities.

§ 14.6 Nonresearch Joint Venture Arrangements.

§ 14.7 Modes of Participation by Universities in Joint Ventures.

Chapter Fifteen: Business Leagues Engaged in Joint Ventures.

§ 15.1 Overview.

§ 15.2 The Five-Prong Test.

§ 15.3 Unrelated Business Income Tax.

Chapter Sixteen: Conservation Organizations in Joint Ventures.

§ 16.3 Conservation Gifts and §170(H) Contributions.

§ 16.7 Emerging Issues.

Chapter Seventeen: International Joint Ventures.

§ 17.1 Overview.

§ 17.3 Potential for Abuse: The Use of Charities as Accommodating Parties in International Terrorist Activities.

§ 17.4 Guidelines for U.S.-Based Charities Engaging in International Aid and International Charities.

§ 17.11 Application of Foreign Tax Treaties.

§ 17.12 Current Developments in Cross-Border Charitable Activities.

Appendix 17A: Redesigned Form 990 (2010) Schedule F, Statement of Activities Outside the United States (New).

Chapter Eighteen: Private Pension Fund Investments in Joint Ventures.

§ 18.1 Overview.

§ 18.2 Private Pension Fund Participation in Joint Ventures.

Chapter Nineteen: Exempt Organizations Investing through Limited Liability Companies.

§ 19.2 The Basics of LLCs: State and Federal Income Tax Law.

§ 19.3 Comparison with Other Business Entities.

§ 19.4 Background and Development of LLCs.

§ 19.5 Tax Classification of LLCs Under Check-the-Box Regulations.

§ 19.6 Exempt Organizations Wholly Owning Other Entities.

§ 19.7 IRS Analysis: The Double-Prong Test and Rev. Rul. 98-15.

§ 19.8 Nonprofit-Sponsored LIHTC Project.

§ 19.9 Private Foundations as Members of LLCs.

Chapter Twenty: Debt Restructuring and Asset Protection Issues.

§ 20.1 Introduction.

§ 20.2 Overview of Bankruptcy.

§ 20.3 Automatic Stay.

§ 20.4 Chapter 11 Plan of Reorganization.

§ 20.5 Discharge.


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