Nonprofit Law Matters

Monthly Archives: January 2012

CRT Disclosure

Posted in Charitable Gift Planning

We have good news and bad news.   The IRS Form 990 (filed by tax-exempt organizations) includes a number of schedules, including Schedule R: “Related Organizations and Unrelated Partnerships,”  which was rolled out for tax years beginning in 2008.  The 2010 instructions for Schedule R clarified that charities should report charitable remainder trusts (CRTs) that are “related”… Continue Reading

Model C Fiscal Sponsorship: The More Formal, the Better

Posted in Public Charities

Model C fiscal sponsorships, where a public charity enters into a pre-approved grant relationship with an unrelated individual or organization, may be less common than Model A direct-program sponsorships, but they do offer some advantages, including the possibility of limiting a sponsor’s liability for project activities.     Unfortunately, they also pose a number of traps for… Continue Reading

Extension of 990 Filing Deadline for Certain Exempt Organizations

Posted in IRS, FTB & Attorney General Controversies, Private Foundations, Public Charities

Most exempt organizations whose tax years end on August 31 or September 30, and which would ordinarily have January or February filing deadlines for Forms 990, 990-EZ, 990-PF, and 1120-POL, have received an unexpected reprieve from the IRS.  Due to system maintenance, these organizations will have until March 30, 2012, to complete their filings electronically,… Continue Reading