Tax-Exempt Organizations in a Nutshell
Author:
Taylor, Scott A.
Edition:
1st
Copyright Date:
2011
14 chapters
have results for nonprofit or non-profit
Chapter IV. Tax–Exempt Organizations Under IRC § 501(c)(3) 105 results (showing 5 best matches)
- In most instances, state law governs when an organization actually becomes a legal entity. State law describes the formalities necessary before an organization becomes a legal entity that is separate from its founders. In the case of non-profit corporations, state law can vary dramatically. Many states follow, more or less, the different versions of the Model Nonprofit Corporation Act, first promulgated in 1952 by the American Bar Association. Revised versions have come out in 1957, 1964, 1988, and 2008.
- Section 501(c)(3) provides that the legal form of the entity can be a corporation or a community chest, fund, or foundation. Written originally by Congress in 1916, this part of the statute shows its age. For all practical purposes, the statute might just as well refer to nonprofit corporations, charitable trusts, and unincorporated associations. See Treas. Reg. § 1.501(c)(3)–1(b)(3) (referring to articles of organization as including nonprofit corporations, charitable trusts, and unincorporated associations).
- The state statutory provisions governing nonprofit corporations will be in the larger collection of state statutes. If you have any desire to practice in the area of tax-exempt organizations, you need to locate your state statute, read it, and consult it regularly. This is vital if you are providing any legal services in connection with the formation, operation, reorganization, or termination of a tax-exempt organization that is a nonprofit corporation under state law.
- Section § 501(c)(3) provides that the net earnings of an organization cannot inure “to the benefit of any private shareholder or individual…” Essentially, Congress wanted to distinguish typical for-profit organizations from non-profit ones. The language here makes sense because non-profit organizations have no shareholders as owners. As a result, a tax-exempt organization’s earnings and assets are not available for any purpose other than furthering
- facto legal entity at the end the 19th century to aid the poor and distressed, are now virtually extinct as recognized legal entities. Any organization today taking on the function of a community chest would likely be a nonprofit corporation or perhaps a charitable trust. As I discussed in Chapter III, an organization must have legal being, and most often that legal being takes the form of a nonprofit corporation formed under state law.
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Chapter III. Types of Non–Profit Entities 29 results (showing 5 best matches)
- In IRS Publication 78, Cumulative List of Organizations, IRS maintains a list of organizations eligible to receive tax deductible contributions. A quick look at this publication shows that most of the organizations use the non-profit corporation as the preferred legal entity. This publication does not list other types of tax-exempt organizations (those not entitled to receive tax deductible donations). But the nonprofit corporation is even more preferred among the non-§ 501(c)(3) group of tax-exempt organizations.
- The nonprofit corporation must have a board of directors, and most states require a minimum of three directors. Most of the detailed rules that govern the operation of the corporation are contained in bylaws adopted by the board of directors and then filed with the relevant state authority. Bylaws are required in most states and can provide operational rules that do not conflict with the nonprofit corporation statute or with the corporation’s articles of incorporation.
- A nonprofit corporation comes into being by complying with the nonprofit corporation statute in force in the particular state. Some states, including Arkansas, Indiana, Mississippi, Montana, North Carolina, South Carolina, Tennessee, Washington, and Wyoming, have adopted the Revised Model Nonprofit Corporation Act developed by the Business Law Section of the American Bar Association and finalized in 1987. Many states continue to use the Model Nonprofit Corporation Act promulgated in 1964. Those states not following either model statute have their own nonprofit corporation statutes.
- The nonprofit characterization of this type of corporation does not mean that it cannot make a profit. It is quite common for a nonprofit corporation to generate revenue from its activities and for this revenue to produce a net profit (revenues exceed expenses). Goodwill, Inc., for example, owns and operates retail stores that sell second-hand merchandise. These stores generate substantial revenues, but any net profits are dedicated currently or for the future to the charitable purposes of the organization.
- A critical difference between a nonprofit and a for-profit corporation is the presence of shareholders. A primary purpose of a for-profit corporation is the production of profits for shareholders. Current or expected profits are the most important factor affecting dividends and the price of stock—both motivations of the typical investor shareholder looking for financial gain. The board of directors of a for-profit corporation owes a special duty to shareholders, but the board of a nonprofit, in contrast, is concerned primarily with advancing the purposes of the corporation.
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Preface 3 results
- At the beginning of the second decade of the 21st century, the non-profit sector in the United States included more than 1.6 million tax-exempt organizations. More than one million of these organizations are public charities exempt from the federal income tax under § 501(c)(3) of the Internal Revenue Code (IRC) and eligible to receive tax deductible donations under IRC § 170. More than 100,000 private foundations, also exempt under IRC § 501(c)(3), comprise an important part of the sector and have an extremely complicated set of legal rules that apply to them. Roughly another half million tax-exempt organizations round out the sector and represent such diverse organizations as chambers of commerce, the American Medical Association, non-profit cemeteries, and labor unions. The annual revenues of public charities make up about 10% of the gross domestic product of the United States, and 9% of all wages come from nonprofit organizations.
- foundation for those students taking classes that cover tax-exempt organizations. Because of its focus on the law, this Nutshell also will be a valuable introduction to nonprofit professionals needing a concise overview of the legal problems that tax-exempt organizations routinely face. Finally, lawyers and other professional serving on nonprofit boards will find this book helpful in identifying where legal problems may arise.
- My goal is to provide you with a coherent framework that enables you to understand the legal basics as they come out of the federal statutes and Treasury Regulations. From this framework, you can start asking the right questions based on the appropriate law. Once you understand which law or sets of law apply, further research may be necessary. Alternatively, you may find a ready answer that comes right out of the applicable statute or regulation.
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Chapter VIII. Tax–Exempt Organizations Under Provisions Other Than § 501 31 results (showing 5 best matches)
- p. Qualified Nonprofit Health Insurance Issuers: § 501(c)(29) (qualified nonprofit health insurance issuers added by the Patient
- Before 1950 a series of judicial decisions concluded that an otherwise for-profit, commercial company could become a tax-exempt organization if it paid all its profits to a charity. The leading case was C.F. Mueller Co. v. Commissioner, 190 F.2d 120 (3d Cir. 1951). The C.F. Mueller Company, a leading pasta maker, was acquired by a new tax-exempt organization controlled by New York University. The pasta company, now with all its operating assets within a non-profit corporation owned by New York University, successfully argued that its payment of all its income to the university, itself exempt as an educational organization under the predecessor of § 501(c)(3), also made the pasta company tax-exempt. This argument came from earlier judicial decisions that had concluded that the destination of the income (i.e., the use of the net profits) could establish a charitable purpose.
- b) at least 75 percent of its members must be present or past members of the United States armed forces, and substantially all its other members must be cadets or spouses, widows, or widowers of past or present members of the United States armed forces; and
- g) to provide insurance benefits for their members or dependents of their members or both, or
- Both organizations are eligible to receive deductible contributions under § 170 but only if the contributions are used exclusively for religious, charitable, scientific, literary, or educational purposes or for the prevention of cruelty to children or animals. See IRC § 170(c)(4). Fraternal organizations are subject to the 30% limit and are treated the same as most private foundations. See IRC § 170(b)(1)(B).
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Outline 11 results (showing 5 best matches)
Index 10 results (showing 5 best matches)
Chapter II. Tax–Exempt Landscape 16 results (showing 5 best matches)
- On the tax-exempt side of the coin, non-profit private colleges and universities generate most of their operating revenue from tuition, something you may be paying if you are a law or business student. For example, if you are a law student attending a private law school, your yearly tuition is in the neighborhood of $35,000 to $45,000 (hopefully less if you received a scholarship). Multiply the annual tuition by the number of students in your law school (reduced by about 20% used to provide scholarships for some students) and you will get a picture of the amount of annual revenue your law school generates from charging tuition. For example, a law school with 1,000 students charging $45,000 in tuition receives about $36,000,000 in tuition revenue each year ($45,000,000 in potential revenue reduced by 20% for partial and full scholarships awarded to certain students).
- The landscape of the tax-exempt sector paints a picture of many well-known organizations that control vast pools of capital, exercise influence, and engage in substantial political activity. The primary regulation of this sector comes under the federal tax law and the regulatory efforts of the IRS. This Nutshell concentrates primarily on the federal tax law and regulations that govern most of the organizations that are exempt from the federal income tax under §§ 501 and 527. If you plan on practicing in this area of law or if you are a non-profit professional trying to learn more about the federal tax law as it applies to tax-exempt organizations, then you need to read and study the statutes and regulations that apply to your situation. The purpose of this discussion is to provide you with an outline of the important statutes.
- treatment, and cure of a major disease. This does not mean that healthcare is an unimportant part of the tax-exempt landscape. The cost of healthcare in the United States is one of the largest components of our economy. Hospitals are an important part of the healthcare industry. But hospitals come in both the for-profit and the non-profit form.
- Donations, however, are not the entire story for some of these organizations. For example, the YMCA, which is actually comprised of thousands of local organizations, generates much more revenue from its members who pay to use fitness facilities or to receive daycare services. Similarly, local Catholic Charities organizations receive much of their revenue from local governments that pay for the care of the homeless and needy.
- You will find only those organizations exempt under IRC § 501(c) because the federal law requiring public disclosure only applies to those organizations. See IRC § 6104(d). You will not find any churches, mosques, or synagogues because they are exempt from filing an IRS Form 990. See IRC
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Chapter V. Private Foundations—A Subspecies of the § 501(c)(3) Organization 85 results (showing 5 best matches)
- 2. The funds of the organization must be subject to a common governing instrument, which will usually be the articles of incorporation and bylaws of a nonprofit corporation. See Temp. Treas. Reg. § 1.170A–9(f)(11)(iv).
- Like churches and schools, hospitals and medical research organizations are classified as non-private foundations because of their activity. Non-profit hospitals are tax-exempt organizations under § 501(c)(3) because they help the sick and poor and, therefore, are charitable. Because this activity is not likely to encourage abuse of the rules, Congress treats hospitals as non-private foundations and exempts them from the private foundation rules. The focus here is on institutions that provide medical care to patients for physical or mental conditions whether or not on an outpatient basis. See Treas. Reg. § 1.170A–9(c)(1). A hospital does not include homes for the aged or for children because the primary function is not medical. See id. Nonetheless, an extended care facility can be a hospital for these purposes because medical care is then the principal purpose and function. See id. and Rev. Rul. 73–131, 1973–1 C.B. 446 (outpatient community health center extending outpatient health...
- organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes, or to foster national or international amateur sports competition (but only if no part of its activities involve the provision of athletic facilities or equipment), or for the prevention of cruelty to children or animals…
- To come within § 170(b)(1)(A)(iv), the endowment fund must 1) receive substantial support from the government or the general public, 2) be organized to receive, hold, and invest property for the benefit of the named college or university, and 3) benefit a college or university that is operated by, or that is an instrumentality of, a state or one of its political subdivisions. See Treas. Reg. § 1.170A–9(b)(2). Most of the major state universities have foundations that serve the purpose of soliciting and holding charitable donations. See, e.g., The University of Wisconsin Foundation at:
- Medical research organizations also come within this non-private foundation classification. To qualify they must 1) have a principal purpose or function to engage primarily in the conduct of medical research and 2) be primarily engaged directly and continuously in such research with a hospital exempt under § 501(c)(3) or operated by a state, federal, or local government. See Treas. Reg. § 1.170A–9(c)(2)(ii). Medical research is defined as “investigations, experiments, and studies to discover, develop, or verify knowledge relating to the causes, diagnosis, treatment, prevention, or control of physical or mental disease and impairments…” Treas. Reg. § 1.170A–9(c)(2)(iii). The organization must dedicate its resources, including a significant amount of its income from any endowment, on this research. See Treas. Reg. § 1.170A–9(c)(2)(v). The Howard Hughes Medical Institute in Chevy Chase, Maryland, is an example of a prominent medical research organization described in § 170(b)(1)(A)(iii).
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Chapter VI. Charitable Giving 54 results (showing 5 best matches)
- • Nonprofit cemetery organizations [See §§ 170(c)(5) & 501(c)(13)].
- In our federal tax system, charitable contributions receive special positive treatment under the federal income tax, gift tax, and estate tax. This positive treatment no doubt amplifies the size of the tax-exempt sector in the United States. The statistics for 2009 and 2010 show that the size of the nonprofit world is absolutely enormous. These facts come from the National Philanthropic Trust and provide a useful snapshot:
- ...applies for tax-exempt status within 15 months of being legally formed (usually the date of incorporation for a nonprofit corporation as shown on the charter of incorporation issued by a state official) and ultimately receives tax-exempt status under § 501(c)(3), then any contributions are treated as made as if the organization already had its tax-exempt status. See Treas. Reg. § 1.508–1(a)(2)(i). Therefore, a taxpayer making a contribution could deduct it so long as the organization ultimately gained tax-exempt status. If a new organization, however, does not apply within 15 months of having come into legal existence, then its status as a tax-exempt organization under § 501(c)(3) arises on the date that it makes its application. See IRC § 508(d)(2)(B), Treas. Reg. §§ 1.508–1(a)(1)(i), 1.508–2, and Peek v. Commissioner, 73 T.C. 912 (1980) (denying charitable contribution deduction where organization applied more than 15 months after formation and where the...
- 3. preserving open space for significant public benefit that is scenic or in furtherance of a clearly defined federal, state, local, or tribal governmental policy, and
- All cash contributions in money or coin require written evidence from the organization showing the name of the organization, the date of the contribution, and the amount of the contribution. See IRC § 170(f)(17) and IRS Publication 526, Charitable Contributions, p. 18 (2010). For other cash contributions under $250, some documentary evidence in the form of a bank statement, credit card statement, or cancelled check is sufficient. See IRS Publication 526, Charitable Contributions, p. 18 (2010). For cash contributions of more than $250, the donee needs to provide a written statement indicating the amount, disclosing if the organization provided any goods or services (other than token items or incidental membership services), and giving a description and good faith estimate of the value of goods and services provided. See IRC § 170(f)(8)(B).
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Chapter X. Gaining and Maintaining Tax–Exempt Status 26 results (showing 5 best matches)
- When going back to the articles of incorporation, the organizers, or their legal adviser, carefully should go through the particular provisions of the state statute that govern formation and operation of nonprofit corporations. The state statute may give the organizers ideas about provisions to put in or leave out of the articles of incorporation. In addition, the organizers must be prepared to make organizational decisions that need to be reflected in the articles. Most incorporation statutes impose a set of default rules that apply if the articles are silent on the matter. Therefore, the organizers should consider the application of each of these default rules and decide if they are appropriate for their organization. In addition, the organizers need to pick a name for their organization, perhaps with ...in mind. Most states allow reservation of a name. But the organizers should do some Internet searches to see if any other organization already has the preferred name or...
- m) a political organization that is a state or local committee of a political party, a political committee of a state or local candidate, a caucus or association of state or local officials, or a political committee that is required to report under the Federal Election Campaign Act of 1971 as a political committee, or
- Congress provided that “churches, their integrated auxiliaries, and conventions or associations of churches” are exempt from the notice (filing) requirement in § 508(a). The applicable regulation provides no definition of “church.” In applying this provision and other tax provisions giving special treatment to churches, IRS and the courts have had to come up with factors that help to determine whether an organization is or is not a church. Many churches, however, apply for and establish their tax-exempt status under § 501(c)(3). This brings clarity to donors who may want to deduct their contributions under § 170.
- As a preliminary matter, all organizations, in order to satisfy the appropriate organizational test, must be a legal entity under federal, state, or tribal law. Too frequently, organizers create their legal entity before studying the IRS requirements contained in the Form 1023 and its instructions. I recommend that the organizers put together a draft of the organizational documents without actually ..., before they know what structure they want or need, will complete a set of bare-bones articles of incorporation and bylaws. Often, state officials make these minimalistic legal forms available online. Once the organizers file these forms with the state, the organization has legal existence. Later, while going through the process of completing the Form 1023 for IRS, the organizers will realize that they may need certain provisions in the articles of incorporation. To complete the Form 1023 properly, the organizers then may have to go through the process of amending the...
- 1. Do we have three or more organizers to constitute the initial board of directors?
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Chapter I. Historical Origins in Charitable Trust Law 7 results (showing 5 best matches)
- The role of IRS within the non-profit world explains the title of this book: The Law of Tax–Exempt Organizations in a Nutshell. Most of the law that concerns us will be federal, although state and tribal law will have an appropriate place. This federal law dealing with tax-exempt organizations exists within the broader federal tax law and comes in the form of statutes, regulations, rulings, cases, and various types of administrative materials (IRS publications, forms, instructions, and memoranda). Much of the federal law regulates tax-exempt organizations to insure that they are organized and operated in furtherance of their exempt purposes and to limit the negative effects of greed and the lust for power.
- Like England, America has had its share of philanthropic scandals. Sadly, some non-profit organizations in America also played a critical role in promoting scientific racism. For example, the American Economic Association, a learned society formed in 1885, published and promoted Frederick L. Hoffman’s book “Race Traits and Tendencies of the American Negro” (1896), viewed as one of the most influential works on scientific racism in America. Sectors of the American charitable community, especially some private schools, have played a disturbing role as the United States has gone about the challenge of fighting racism and promoting racial equality. See Bob Jones University v. United States, 461 U.S. 574 (1983) (revoking the federal tax-exempt status of a private university under § 501(c)(3) because of racial discrimination in treatment of students).
- Historically, charities became relevant as a matter of federal law when Congress passed a corporate income tax law in 1909 and expressly provided exemption for “corporations or associations organized and operated exclusively for religious, charitable, or educational purposes, no part of the income of which inures to the private benefit of any private stockholder or individual.” Act of August 5, 1909, ch. 6, 36 Stat. 11, 113. Congress enacted an individual income tax in 1913, but the federal tax-exempt status of philanthropic organizations became especially relevant when Congress enacted the Revenue Act of 1918 with a provision allowing individuals to deduct contributions or gifts made “to corporations organized and operated exclusively for religious, charitable, scientific, or educational purposes, or for the prevention of cruelty to children or animals…” See Revenue Act of 1918, ch. 18, § 214(a)(10), 40 Stat. 1057, 1068 (1919). In 1918 the charitable contribution deduction was born...
- The model of the modern American foundation, named after the person whose wealth establishes a permanent institution that generates enough annual income to fund charitable activities indefinitely, or at least for a substantial period of time, came into being in 1867 when George Peabody started the Peabody Fund to assist southern education. Under the terms of the gift, the Peabody Fund terminated in 1898. The Carnegie Corporation (Andrew Carnegie’s largest foundation begun in 1911), the Rockefeller Foundation (1913), the Ford Foundation (1936), and the Bill and Melinda Gates Foundation (1994) are examples of subsequent charitable institutions with enormous amounts of wealth dedicated to charitable purposes in the tradition of the Peabody Fund.
- Now in the United States most of the regulation of the philanthropic sector falls on the shoulders of the Internal Revenue Service (IRS) with various state offices concerned with regulating fundraising activities. In general, philanthropic organizations enjoy exemption from the federal income tax. In most cases, these organizations must apply to IRS in order to confirm their tax-exempt status. See IRC § 508(a). For a philanthropic organization to be exempt from the federal income tax, it must be organized and operated for one or more charitable purposes. See IRC § 501(c)(3). Most tax-exempt organizations must file annual information returns with the IRS. See IRC § 6033(a). This system within IRS—application for exempt status and filing of annual information returns—provides the rationale for saddling IRS with most of the responsibility for regulating the philanthropic sector within our country.
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Chapter IX. Tax on Unrelated Business Income and on Income From Debt–Financed Property 38 results (showing 5 best matches)
- The term “qualified sponsorship payment” means any payment made by any person engaged in a trade or business with respect to which there is no arrangement or expectation that such person will receive any substantial return benefit other than the use or acknowledgement of the name or logo (or product lines) of such person’s trade or business in connection with the activities of the organization that receives such payment. Such a use or acknowledgement does not include advertising such person’s products or services (including messages containing qualitative or comparative language, price information, or other indications of savings or value, an endorsement, or an inducement to purchase, sell, or use such products or services).
- exclusive sponsorship arrangements; logos and slogans that do not contain qualitative or comparative descriptions of the payor’s products, services, facilities or company; a list of the payor’s locations, telephone numbers, or Internet address; value-neutral descriptions, including displays or visual depictions, of the payor’s product-line or services; and the payor’s brand or trade names and product or service listings.
- [P]ayments for the use or occupancy of rooms and other space where services are also rendered to the occupant, such as for the use or occupancy of rooms or other quarters in hotels, boarding houses, or apartment houses furnishing hotel services, or in tourist camps or tourist homes, motor courts, or motels, or for the use of occupancy of space in parking lots, warehouses, or storage garages, does not constitute rent from real property. Generally, services are considered rendered to the occupant if they are primarily for his convenience and are other than those usually or customarily rendered in connection with the rental of rooms or other space for occupancy only. The supplying of maid service, for example, constitutes such service; whereas the furnishing of heat and light, the cleaning of public entrances, exits, stairways, and lobbies, the collection of trash, etc., are not considered as services rendered to the occupant. Payments for the use or occupancy of entire private... ...or...
- The statute more precisely provides that unrelated trade or business means “any trade or business the conduct of which is not substantially related (aside from the need of such organization for income from funds or the use it makes of the profits derived) to the exercise or performance by such organization of its charitable, educational or other purpose or function constituting the basis for its exemption under section 501.” IRC § 513(a). The statute also provides some important exceptions from this definition. We will turn to those exceptions shortly. In any case, this definition causes us to consider the meaning of “trade or business,” “regularly carried on,” and “not substantially related.”
- A trade or business involves “any activity carried on for the production of income from the sale of goods or performance of services.” Treas. Reg. § 1.513–1(b). Although not stated, income producing activities that are primarily of an investment nature, such as buying and holding stock as an investment, do not rise to the level of a trade or business. The variations of what might constitute a trade or business are nearly endless. For our purposes, the presence of a trade or business is a given in many instances. So, for example, a law school is a trade or business because it charges tuition for legal education services. The tuition produces income. In the end, however, the trade or business is substantially related to the law school’s exempt educational function. As a result, the tuition revenue is substantially related, and, therefore, not subject to the UBIT.
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Chapter VII. Regulation of Charitable Fundraising 19 results (showing 5 best matches)
- 3. the manner in which the charitable organization’s name will be used, including the representation to be made to the public as to the actual or estimated dollar amount or percent per unit of goods or services purchased or used that will benefit the charitable organization;
- 7. whether the organization has ever had its registration denied, suspended, revoked, or enjoined by any court or other governmental authority;
- 5. the estimated number of units of goods or services to be sold or used;
- The interest of IRS in regulating charitable fund-raising relates to compliance with the various federal tax laws and has very little to do with eliminating fraud and abuse or reducing high administrative costs in fundraising. Nonetheless, in 2008 IRS added Schedule G to be filed along with the IRS Form 990 or 990–EZ if an organization incurred more than $15,000 in professional fundraising costs, incurred more than $15,000 in costs on fundraising events, or generated more than $15,000 in gross revenue from gaming activities. See IRS Form 990, p. 3, Part IV, lines 17 through 19 (2010). The Schedule G requires reporting much of the same information that the Model Act requires.
- § 501(c)(3). See Model Act § 1(a)(1). The term also includes various types of organizations having charitable purposes that are not necessarily tax-exempt under § 501(c)(3). See Model Act § 1(a)(2). The term “fund raising counsel” means the person who is compensated to plan and coordinate fundraising efforts but does not include paid or volunteer inhouse staff of the charitable organization or lawyers who advise clients about making contributions. See Model Act § 1(f). The term “paid solicitor” means a person (usually a corporation or LLC) that receives compensation from a charitable organization for soliciting contributions. See § Model Act § 1(g). And “solicitation” has a broad and inclusive meaning extending to most forms of fundraising activities. See Model Act § 1(c). Fortunately, the definition of “solicitation” excludes efforts to secure volunteers. Membership dues are included in the definition of “solicitation.” See Model Act § 1(c)(4). But the definition of “contribution”...
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- Publication Date: August 12th, 2011
- ISBN: 9780314262349
- Subject: Taxation
- Series: Nutshells
- Type: Overviews
- Description: Taylor’s Tax-Exempt Organizations in a Nutshell provides a valuable introduction and foundation for those students taking classes that deal with the law of nonprofit organizations and the tax treatment of them. Special treatment is provided on charitable giving, fundraising, unrelated business income, and private foundations. Because of its focus on the law, this is a valuable introduction for nonprofit professionals who need a concise overview of the legal problems that nonprofit organizations routinely face.
