A Primer on Advising Nonprofit Organizations Out of Stock
Co-sponsored by the Business and Taxation Law Sections of the CBA, the Colorado Nonprofit Associatio
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May 2013
A Primer on Advising Nonprofit Organizations
Program Description:
The 2013 Primer is designed to introduce practitioners to more general aspects of the laws governing the formation and operation of nonprofit organizations, obtaining and retaining tax-exempt status, the distinctions between public charities and private foundations, and operational issues for tax-exempt organizations.
Topics:
Organization of Nonprofit Entities
Nonprofit corporations in Colorado may be formed for “any lawful business or activity,” and the flexibility of Colorado's nonprofit corporation statute lends itself to structuring nonprofit corporations in ways that accommodate a wide diversity of circumstances. This session will begin with the mechanics of creating a nonprofit corporation and then proceed to consider many of the different ways in which they may be governed, including a discussion of the relative rights and responsibilities of members and directors. This session will also touch on important areas of compliance with the Colorado Revised Nonprofit Corporation Act.
Presented by:
Denise D. Hoffman, Esq.
Mastin Hoffman & Crews LLC
Greenwood Village, Colorado
Obtaining and Retaining Tax-Exempt Status
This session will provide a basic introduction to the tax law applicable to organizations described in Section 501(c) of the Internal Revenue Code. It will begin with an overview of the different categories of tax-exempt organizations, including social welfare organizations, trade associations, and social clubs, and will then focus on the requirements for qualifying and operating as a Section 501(c)(3) charity. In that regard, this presentation will explore the types of activities that can be considered to fall within the scope of Section 501(c)(3), including charitable, educational and scientific activities; the relationship between its public benefit requirement and private inurement prohibition; and its restrictions on lobbying and political campaign involvement. It also will touch on differences between Section 501(c)(3) organizations and other Section 501(c) organizations with respect to activities like lobbying.
Presented by:
Becky Farr Seidel, Esq.
Leaffer Law Group LLC
Denver, Colorado
Public Charities, Private Foundations, and Unrelated Business Taxable Income
This session will clarify the complexities of qualifying a Section 501(c)(3) organization as a public charity, as well as the consequences of its failure to establish or maintain that status and thus becoming classified as a private foundation. The second half of this presentation will explore the taxation of unrelated business taxable income, with a special emphasis on how to recognize which activities may generate taxable income and strategies for avoiding or minimizing it.
Presented by:
Samantha White, Esq.
Baker & Hostetler LLP
Denver, Colorado
Operational Issues for Tax-Exempt Organizations
Tax-exempt organizations deal with a number of operational issues. Some of these issues are similar to those dealt with by for-profit organizations. Other issues are unique to tax-exempt organizations. This session will discuss a few of such operational issues, including the annual return (Form 990) filing requirements, basic board governance issues, and charitable solicitation registration rules. An understanding of these topics will help the organization to retain its tax exemption and operate smoothly.
Presented by:
John Valentine, Esq.
Davis Graham & Stubbs LLP
Denver, Colorado
- CLE Pass Price *FREE! - exclusions may apply
- Standard Price $199.00 USD
- Member Price $159.00 USD
- General Credits 4.00
- Ethics Credits
- EDI Credits