July 29, 2014
12:00 – 1:00 p.m.
1.00 MCLE hours
Nonprofit organizations frequently partner with for-profit companies to aid its mission. These joint ventures or other forms of collaboration can provide the nonprofit additional revenue, technical advice, marketing support, or other valuable services. The nonprofit is able to further its mission and grow its activities by leveraging the resources of private industry. From the perspective of regulators, including the IRS, however, there are many concerns, including whether the nonprofit’s tax exempt status is being exploited for private gain or other inappropriate purpose. If these joint ventures and other collaborative efforts are not carefully structured and operated, they can easily cost the nonprofit its tax-exempt status or subject it to certain substantial penalties. This program will provide you with a real-world guide to structuring joint ventures and other collaborations between nonprofit organizations and for-profit companies, essential due diligence items for nonprofits, a detailed discussion of the tax rules and penalties involved, and practical advice on mitigating risk.
Michael Lehmann, Manatt, Phelps & Phillips, LLP, New York