Tax Challenges for Counsel to Nonprofit Joint Ventures and Alliances
Evaluating Tax Consequences of Entity Structure and Activities, Maintaining Tax-Exempt Status
Recording of a 90-minute premium CLE/CPE webinar with Q&A
This CLE/CPE course will prepare tax counsel to nonprofits to properly establish joint ventures or other business alliances, including structuring the business entity, defining the scope of activities and intended operations, maintaining tax-exempt status, and addressing UBIT and Form 990 disclosures.
Outline
- Joint venture structures
- Joint ventures using partnerships
- Joint ventures using corporations
- Impact of new partnership audit rules
- Risks to NPO in establishing joint venture
- Nature of the activities and operations of the venture
- UBIT, required disclosures and other issues
- New Markets Tax Credits and other tax incentives
Benefits
The panel will review these and other key issues:
- What factors should tax counsel consider in evaluating the potential benefits and risks with particular entity structure or business models for nonprofits? What issues should counsel to for-profits consider? What is the IRS' present ruling policy?
- What are the potential risks to a nonprofit's tax exemption when establishing a joint venture?
- When is unrelated business income generated?
- How does the tax status of the participants impact tax consequences of a venture or affiliation?
Faculty
Elizabeth M. Mills
Senior Counsel
Proskauer Rose
Ms. Mills focuses her practice on both health care organizations and tax exemption issues for not-for-profit... | Read More
Ms. Mills focuses her practice on both health care organizations and tax exemption issues for not-for-profit organizations. She addresses regulatory and transactional issues for all types of health care providers and advises these organizations as changes to their particular tax exemption standards are proposed, implemented, and litigated. She also assists tax-exempt organizations in addressing tax compliance and governance issues such as Form 990 reporting, executive compensation, payroll taxes, compliance with supporting organization and private foundation restrictions and use of tax-exempt bond-financed property. She speaks and writes frequently on tax exemption matters, particularly for health organizations.
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Elka T. Sachs
Partner
Krokidas & Bluestein
Ms. Sachs concentrates her practice on the corporate, transactional and tax needs of the firm’s clients. She... | Read More
Ms. Sachs concentrates her practice on the corporate, transactional and tax needs of the firm’s clients. She represents non-profit and public entities, including health and human service providers, charter schools and other educational institutions, and financial institutions which lend to non-profits and public entities.
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Michael I. Sanders
Partner
Blank Rome
Mr. Sanders focuses his practice in the area of taxation, particularly in matters affecting partnerships, limited... | Read More
Mr. Sanders focuses his practice in the area of taxation, particularly in matters affecting partnerships, limited liability companies, S-corporations, real estate, tax controversy, and estate planning, including trusts and estates. He also has a large practice in the area of exempt organizations involving healthcare and low-income housing, associations and joint ventures between for-profits and nonprofits, as well as structuring New Markets Tax Credit ("NMTC") and Historic Tax Credit ("HTC") transactions. He is the author of Joint Ventures Involving Tax-Exempt Organizations (3rd Ed., 2007; 4th Ed., 2013) which was recently cited by the majority opinion in the widely covered U.S. Supreme Court decision in Burwell v. Hobby Lobby Stores, Inc. He previously served as an attorney-advisor to the assistant secretary of tax policy at the Office of Tax Legislative Counsel.
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