Understanding Nonprofit and Tax Exempt Organizations
Understanding Nonprofit and Tax Exempt Organizations is a guide for the law student or practitioner who is looking to understand the law governing the nonprofit, tax exempt sector. This text deals with the many types of tax exempt organizations; the rules, regulations and limitations imposed on tax exempt organizations by the courts, the Internal Revenue Code (IRS) and the Treasury Regulations (the Regulations); the charitable contribution and fundraising issues affecting tax exempt organizations; the unrelated business income tax, excise taxes and intermediate sanctions imposed on tax exempt organizations; and the rules regarding private foundations. This new Second Edition reflects recent changes in the law made by the Pension Protection Act of 2006 and the Patient Protection and Affordable Care Act of 2010.
The Second Edition of Understanding Nonprofit and Tax Exempt Organizations begins with an introduction to nonprofit organizations by discussing the relevant law in general, as nonprofits are governed by state law. Next, tax exempt organizations are discussed, by first giving the reader the background on where such organizations fit in the nonprofit sector; why the organizations are given preferential tax treatment; what form these organizations take; and how such organizations are governed and dissolved. The Second Edition also provides detailed explanations of the various rules, regulations and tests they must follow in order to obtain or retain their tax exempt status as well as the consequences for failure to comply.
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INTRODUCTION TO TAX EXEMPT
STRUCTURING A NONPROFIT ORGANIZATION
SECURING MAINTAINING TAX EXEMPT STATUS
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American Bar Endowment apply Ass’n assets association Bob Jones Univ Bob Jones University campaign charitable contribution charitable organizations charitable trust church Church of Scientology Comm’r commercial Commissioner court found credit counseling defined determined directors disqualified person doctrine donor educational organizations exempt function exempt purposes expenditures federal income tax for-profit Form foundation’s fundraising funds further information gifts healthcare interest intermediate sanctions investment income IRC Section IRS’s issue joint venture lobbying nonprofit corporation nonprofit organizations operational test organization’s exempt payment percent political activities private foundation private inurement public charity public support Regulations requirements Revenue Ruling Section 527 social clubs substantial Supp supporting organization supra note Tax Court tax exempt hospital tax exempt organizations tax exempt status taxable trade or business United States Supreme unrelated business activities unrelated business income