Nonprofit Law Matters

Monthly Archives: September 2012

Secretary Clinton Says Proposed Regulations “Clear the Way” for Equivalency Repositories

Posted in Grantmaking & Social Investing, International Charitable Transactions & Operations, Private Foundations, Public Charities

Private foundations making grants directly to foreign organizations generally must use one of two grantmaking procedures―expenditure responsibility or foreign public charity equivalency (“FPCE” for short).  In FPCE, a grantor makes a good faith determination, based on an affidavit of the grantee or on an opinion of counsel, that the foreign charity meets the basic 501(c)(3) public… Continue Reading

Colvin Questions on Issue Ads, IRS/Treasury Answers: the Oral Exchange

Posted in Tax Treatment of Lobbying & Political Activities

On Friday, September 14, 2012, the Tax Section of the American Bar Association met in Boston. The Exempt Organizations Committee held a panel entitled “News from the IRS and Treasury,” including Lois G. Lerner, Director, EO Division, TE/GE, IRS, and Ruth M. Madrigal, Attorney-Advisor, Office of Tax Policy, Department of Treasury.  What follows is the… Continue Reading

IRS Releases Proposed Regulations for Private Foundations

Posted in Grantmaking & Social Investing, International Charitable Transactions & Operations, Private Foundations

The Department of the Treasury and the IRS have just released proposed regulations for private foundations.  Here’s a look at what they say. Expanding class of tax practitioners on whose opinions private foundations can rely for foreign public charity equivalency.  Currently, private foundations wishing to make grants to non-U.S. charities generally have to exercise expenditure responsibility… Continue Reading

Social Enterprise―Innovating through Impactful Partnerships

Posted in Grantmaking & Social Investing, Social Enterprise

OK.  I don’t know what the title of my post means either, but that is actually my point! Social enterprise is an emerging and developing business approach, whether accomplished through a tax-exempt organization, a traditional for-profit entity, or one of the newer hybrid forms―L3Cs, Benefit Corporations, or Flexible Purpose Corporations.  With new approaches necessarily comes new… Continue Reading