Choice of Entity Considerations for Nonprofits
February 2014
Choice of Entity Considerations for Nonprofits
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Program Description:
Choice of entity for charitable and nonprofit organizations is a sophisticated set of tax, operational, regulatory and mission-related considerations and tradeoffs. The choice impacts not only how an entity will be treated for federal income tax and state law purposes, but also impact how the organization goes about its mission and serving its charitable purpose. The choice has become more difficult recently because of extended delays in obtaining tax exempt status from the IRS, leading many charities seeking alternatives to forming traditional entities. This program will provide you with a real world guide to choice of entity considerations for nonprofit and charitable organizations, the practical challenges of obtaining tax exempt status, and practical alternatives to forming a traditional entity.
- Major choice of entity considerations for nonprofit and charitable organizations
- Understanding the uses of corporations and LLCs, private foundations v. public charities
- Growing popularity of not choosing an entity - using a single member LLC or utilizing a long-dormant entity
- Restrictions on the activities and investments of each type of entity, including joint ventures with profit-making organizations
- Real world guide to current state of obtaining tax exempt status from the IRS
Faculty:
Michael Lehmann is a partner in the New York City office of Manatt, Phelps & Phillips, LLP, where he specializes in tax issues related to non-profits and in the tax treatment of cross-border transactions. He advises hospitals and other health care providers, research organizations, low-income housing developers, trade associations, private foundations and arts organizations. He advises clients on obtaining and maintaining tax-exempt status, executive compensation, reorganizations and joint ventures, acquisitions, and unrelated business income planning. Mr. Lehmann received his A.B., magna cum laude, from Brown University, his J.D. from Columbia Law School, and his LL.M. from New York University School of Law.
Michele A. W. McKinnon is a partner in the Richmond, Virginia office of McGuireWoods, LLP, where she an extensive tax-exempt organization and charitable giving practice. She has more than 20 years experience representing public charities, major colleges and universities, supporting organizations, large private foundations, and charitable trusts. She is a Fellow in the American College of Trust and Estate Counsel and currently serves as its Virginia State Chair. Ms. McKinnon received her B.A. from the University of Virginia, her J.D., magna cum laude, from the University of Richmond School of Law, and her L.L.M. in taxation from the College of William & Mary Marshall-Wythe School of Law.
Registration Fees
| Non Member | $109.00 |
| CBA | $89.00 |
- General Credits: 1.00
- Ethics Credits:
- EDI Credits:
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