March 2014

Five Things Nonprofits Should Know About: Tax-Exempt Financing

Please note that the term "nonprofit" as used here specifically means entities holding 501(c)(3) status under the Internal Revenue Code. How it Works. "Tax-exempt bonds" are issued and sold by a governmental entity, the "issuer" (referred to in this type …

February 2014

Five Things Nonprofits Should Know About: Unrelated Business Taxable Income (“UBTI”)

Please note that, although the term "nonprofit" is generally used, here we are specifically discussing 501(c)(3) entities. What UBTI Is. UBTI generally means any income that an exempt organization earns through business that is unrelated to its tax-exempt…

January 2014

Sweeping Changes to New York Laws Affect Hinckley Allen’s Nonprofit Clients in All States

New York has enacted sweeping reforms of nonprofit corporate law, which could apply to nonprofit corporations ("nonprofits") organized, and operating, throughout the U.S. The New York Non-Profit Revitalization Act of 2013 ("NPRA"), signed into law by Gov. …

July 2013

New Delaware and Rhode Island Laws Define Benefit Corporations

Legislation signed into law in both Delaware and Rhode Island last week has created a new hybrid form of business entity: benefit corporations. Benefit corporations (also known as “B-corps”) are a new category of for-profit corporation, in which boards…

May 2013

Tax-Exempt Issuers and Borrowers Need Written Post-Issuance Compliance Policies

ARE YOU A NON-PROFIT OR GOVERNMENTAL ENTITY WITH OUTSTANDING TAX-EXEMPT BONDS? ARE YOU CONSIDERING FINANCING A PROJECT USING TAX-EXEMPT BONDS? IF SO, YOU SHOULD HAVE A WRITTEN "POST-ISSUANCE COMPLIANCE POLICY" IN PLACE.The status of an issuer or borrower a…

February 2013

Tax-Exempt Checkup

The 501(c)(3) tax-exempt status of a non-profit is conditioned on many requirements and restrictions. The following list summarizes some of the items that such an organization must keep in mind in its day-to-day operations and may serve as a convenient che…