Legal Guidance For Tax-Exempt Entities
As a result of numerous attempts to take advantage of the tax-exempt status of nonprofit, charitable organizations for private gain, regulation by the IRS has become increasingly burdensome over the past several years. Under current nonprofit law, the formation and operation of these very special organizations requires ever-increasing attention to:
- Planning the structure of the nonprofit organization, giving particular attention to issues concerning governance avoidance of conflicts of interest and self-dealing and the permitted scope of operations
- Proper formation of the nonprofit entity, using corporate or trust documents containing appropriate provisions for IRS approval of tax-exempt status
- Applying to IRS for tax-exempt status, including preparation of the lengthy and complex Form 1023
- Monitoring the activities of the governing board to ensure compliance with government and internal corporate requirements
- Assisting with issues of executive compensation and other transactions to avoid allegations that the organization is operated, in whole or in part, for the private benefit of its controlling persons (private inurement)
Offit Kurman Attorneys At Law nonprofit attorneys have significant experience in each of these areas, and work closely with you in order to obtain and retain your tax-exempt status, so that we can assist you in fulfilling your charitable missions.
To learn more about how Offit Kurman Attorneys At Law nonprofit entities services benefit you or your business please click the link below.