The Nonprofit Organizations Committee seeks to advance the practices of nonprofit and professional associations law and to help ACC members working in these areas better serve their clients. Resources provided include information on taxes and best practices for working with nonprofit organizations.
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Upcoming Teleconference Meeting
Tuesday, June 11, 2013 at 3:00 PM ET, 7:00 PM GMT
Legal Quick Hit (Webcast presentation during the meeting)
Tax-Exempt Financing: Worth Considering for Nonprofits, but Don't Ignore the Costs & Compliance Burdens
One benefit of 501(c)(3) status is the ability to borrow at tax-exempt interest rates. Judicious use of tax-exempt debt to spread the cost of long-lived capital assets over their expected useful lives can relieve pressure on operating budgets. When choosing between tax-exempt financing and conventional financing, a nonprofit organization should weigh the interest rate savings against the higher transaction costs and ongoing compliance burdens associated with tax-exempt finance. This Legal Quick Hit will be led by two members of Venable's public finance practice and will provide an overview of which expenditures are eligible for tax-exempt financing. It also will detail the costs and compliance burdens that need to be weighed against the benefits of such financing. Specific topics to be covered include: * The process: what do you have to go through to issue tax-exempt debt? * The benefits: interest rate savings * The transaction costs: added costs over borrowing on a taxable basis * More on the costs: ongoing compliance burdens * Is it worth it?: who and what to ask Walter R. Calvert, Partner, Venable LLP Davis V.R. Sherman, Partner, Venable LLP
Recent Committee Developed Resources
May 2013 QuickCounsel
This QuickCounsel, which focuses on employee bonuses, examines various 501(c) organizations and the IRS's test of compensation as well as the prohibition on private inurement.
May 2013 Wisdom of the Crowd
This Wisdom of the Crowd, compiled from responses posted on the Nonprofit Organizations eGroup, addresses issues related to nonprofit board members paying to serve and potential conflicts with their ...
Nov 2012 QuickCounselSponsored by Venable LLP
This QuickCounsel will identify somebest practices to helpnonprofits select the insurance coverage they need and increase the effectiveness of those policies.