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Articles of Incorporation and Bylaws: What Goes Where

Details: The bylaws are the internal governing document for the corporation, and establish rules for day-to-day management of the organization. They should generally address issues such as: Director selection, terms and removal/resignation. Membership requirements and structure. Meeting-related information, including notice and requirements for written

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Privacy and Data Security Part I: Legal Requirements for

Details: State privacy laws require compliance based on the location of the individual “data subject” rather than the location of the entity doing the collection. Nonprofits with personally identifiable information (“PII”) from individuals in various states are therefore subject to numerous state laws requiring specific information security

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Legal Lowdown: Fundamentals for Scholarship Providers

Details: are fairly minimal under the tax laws Specific requirements for Private Foundations and Qualified Scholarship Funds provide good guidance for all providers Don’t forget, many other federal and state laws cover data privacy and security! 48

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Legal Fundamentals for Scholarship Providers

Details: minimal under tax laws » Specific requirements for Private Foundations and Qualifying Scholarship Funds provide good guidance for all providers » Don’t forget, many other federal and state laws cover data privacy and security!

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Private Foundations and Advocacy: Understanding the Rules

Details: Private Foundations and Advocacy: Understanding the Rules. Political Activity, Lobbying and Advocacy, Private Foundations, Tax-Exempt Status February 6, 2013. Unlike public charities, discussed in a recent post, private foundations are prohibited from lobbying in any capacity (absent a specific exception to the prohibition).

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Sweeping Changes Proposed for Donor Advised Fund Rules

Details: The Accelerating Charitable Efforts Act (ACE Act), introduced by Senators Grassley and King, aims to restructure the laws governing donor advised funds in order to get donations more quickly to the working charities that need them. Given that over $140 billion in assets are sitting in these accounts

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Robert’s Rules of Order: By No Means Required for

Details: This is the fourth post in a series about Colorado nonprofit corporate governance issues. Click here for the most recent post on differences between articles and bylaws, here for an earlier post on membership issues, and here for the initial post on proxy voting.. When it comes to establishing a process for conducting board or member meetings, many nonprofits insert a provision in their bylaws

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Guest Post: Top 10 Website Liability Issues for Nonprofits

Details: Laws regarding contract formation and financial transactions vary among countries as well. You may attempt to structure your site and its terms/policies to ensure that international users are agreeing to be governed by U.S. laws, but other steps may still need to be implemented depending on the nature of the site, particularly with regard to

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Guest Post: Top 10 Website Liability Issues for Nonprofits

Details: There are also specific privacy related laws applicable to users in California, children under 13, international users, and laws specific to certain industries or types of data, so it is crucial to consult with an attorney experienced in data privacy laws.

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Private Foundations and Payout Requirements: Know Your

Details: This is the second post in an ongoing series on private foundation issues. For the first post on self-dealing issues, click here, and check back in upcoming weeks as we discuss other issues like jeopardizing investments and specialized grantmaking considerations.. Unlike public charities, private foundations are required to satisfy an annual payout requirement each year.

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Amateur Sports Organization’s

Details: The Tax Court recently upheld the IRS’ revocation of exempt status of a 501(c)(3) organization formed for the purpose of fostering national and international sports competition, because of private inurement and private benefit issues with the fundraising structure. It is likely that many organizations apply a similar structure—which allowed members to fundraise in order to offset their

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A Safer Bet: Colorado Raffle and Bingo Initiatives Make

Details: For example, the definitions under the raffle laws can encompass less traditional methods of selecting a winner or awarding prizes. Easier Compliance However, the Colorado Secretary of State recently announced new initiatives to make it a bit easier for qualifying nonprofit organizations to raise money through raffles and bingo, while still

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Privacy and Data Security Part II: Breaches—Preparation

Details: Analysis of which state notification laws will be triggered, based on states from which personal information is collected, and the definition of personal information triggering notification laws in the various states (note that there are currently 46 different state notification laws

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Board Liability for Data Security Breaches (Guest Post

Details: Although there are many laws that protect or limit directors, especially volunteer directors, from liability, they can face exposure the event of a breach of their fiduciary duties to the organization, misuse of the organization’s assets, violation of state or federal laws, and other circumstances.

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Privacy and Data Security Part III: Data Issues in Vendor

Details: Other laws merely require monitoring of vendors but leave the specific procedures up to the entity. When you are negotiating the contract for services with your vendor, be sure the contract obligates the vendor to comply with all applicable privacy and security laws and regulations to which your information is subject.

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Requirement for New Form 1023 Eliminated in Some

Details: Reincorporation of an organization under the laws of a second state. New Rulings. Over the past several months, the IRS has released two private letter rulings that muddy the waters. In PLR 201426028, the IRS holds that conversion from a public nonprofit corporation to a nonprofit corporation would not result in a new entity and would not

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Nonprofit Law Blog

Details: Supreme Court Strikes Down California Donor Disclosure Law. Fundraising, Charitable Giving and Grantmaking July 9, 2021. The Supreme Court in Americans for Prosperity v. Bonita struck down a California law that required nonprofits registered in the…. READ MORE.

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Options for Social Enterprise

Details: Potential application of securities laws Potential application of additional unrelated trade or business income tax (if charity controls for-profit entity (> 50% ownership), certain non-taxable passive income becomes taxable) Potential loss of postal privileges 42

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Private Foundations and Self-Dealing: Avoiding the Danger

Details: Self-dealing is an issue that private foundations must wrangle with on an ongoing basis. Essentially, under section 4941 of the Internal Revenue Code and related regulations, a private foundation’s disqualified persons—those who control and fund the foundation—are prohibited from direct and indirect financial transactions with the

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Proxy Voting: The Nitty-Gritty on Basic Requirements and

Details: This is the first post in a series about Colorado nonprofit corporate governance issues. Check back in coming weeks for posts on other topics including email voting, parliamentary rules, recommended corporate policies, and distinctions between articles of incorporation and corporate bylaws.

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New Tax Law Focus: Deduction Sacked for Season Ticket

Details: He would be entitled to a charitable deduction of $8,000 (80 percent of the $10,000 pre-ticket purchase donation), which at the top tax bracket of 37 percent is worth $2,960. Thus, under Section 170 (l), the football fan receives a $2,960 subsidy for the season tickets. New Law. For tax years after December 31, 2017, the 80 percent deduction is

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More Clarification from IRS on Type III Supporting

Details: More Clarification from IRS on Type III Supporting Organizations. IRS Developments, Private Foundation Alternatives March 10, 2016. The IRS recently issued new proposed regulations regarding supporting organizations that provide additional clarity, particularly for Type IIIs. This has been an area in flux for some time, and the IRS has issued a

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Nonprofits and Social Enterprise: Finding the Right Fit

Details: Securities laws, federal and state Tax doctrines, such as alter ego, ancillary joint ventures, private inurement, private benefit, intermediate sanctions, commerciality, unrelated trade or business income tax Private foundation rules, for private foundation participants Charitable solicitations laws

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Colorado Public Benefit Corporations Part III: An

Details: What happens if the charitable solicitations laws are violated? Violations of the charitable solicitations laws can be considered “charitable fraud” (a criminal offense) and/or a “deceptive trade practice” under the Colorado Consumer Protection Act. Both carry significant penalties and …

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Leaffer Law Group

Details: The Accelerating Charitable Efforts Act (ACE Act), introduced by Senators Grassley and King, aims to restructure the laws governing donor… READ MORE New IRS Compliance Initiative Targets Exempts’ Worker Classifications

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Public Support Changes Likely on the Horizon for DAFs

Details: Public Support Changes Likely on the Horizon for DAFs. Private Foundation Alternatives January 3, 2018. As noted in our last blog post, the IRS has issued Notice 2017-73, which discusses the future issuance of proposed regulations on a variety of matters related to donor advised funds (“DAFs”). This post, our second in a series of three

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Political Activity Minefield: What Nonprofits Can (and Can

Details: As we enter the final stretch of this election, it is important to remember how the political arena can affect many nonprofits. As information about the candidates, key political issues as well as political activities of nonprofits fill the news, here is a refresher on the political activity laws that apply in the exempt organization area.. What 501(c)(3) s CAN’T do

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IRS Approves Crossroads GPS as Exempt 501(c)(4) After Six

Details: The organization, as well as Rove personally, have been dogged by accusations of violating campaign finance laws by failing to report spending on political ads and collecting undisclosed money earmarked for campaign advertising. Further, litigation over what is widely seen as a political dismissal of allegations surrounding Crossroads GPS’s

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Supreme Court Strikes Down California Donor Disclosure Law

Details: Legal commentators maintain it is unclear whether similar laws, like the one in New York, will remain in place under the ruling and whether there could be an effect on federal and state laws that require public disclosure of campaign contributors, which could sharply increase the flow of dark money supporting candidates and advocacy efforts.

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IRS Eases Up on Corporate

Details: Reincorporation of an organization under the laws of a second state. Interestingly, other federal tax rulings regarding EIN numbers typically held that a new EIN would not be required in most of the above circumstances—the practical result being that an organization with the same EIN would be applying again for recognition of exempt status.

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2016 Election Series – Nonprofit Issues in the Spotlight

Details: These laws are designed to protect both donors and the charitable sector from bad actors who would take undue advantage of those seeking to do good. Therefore, failure to comply with the laws is a serious matter that can result in serious consequences ranging from imposition of large fines, to orders to cease fundraising in the state, to very

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Nonprofits and Email Voting: Go Ahead and Hit Send

Details: This is the sixth post in a series about Colorado nonprofit corporate governance issues. Click here for the most recent post on corporate policies, here for Robert’s Rules of Order, here for differences between articles and bylaws, here for an earlier post on membership issues, and here for the initial post on proxy voting.. Nonprofits and their stakeholders are doing much more

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Accomplishing Mission through For-profit/Nonprofit

Details: These are just a few of the issues to keep in mind before deciding on a combination structure; others include charitable solicitations considerations, public filings required for nonprofit entities that will include certain related-party information, and potential application of federal and state securities laws.

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A Primer on the PATH Act for Nonprofits

Details: This 60-day period can be extended for reasonable cause. The notification must include: (1) the name, address, and taxpayer identification number of the organization; (2) the date on which, and the state under the laws of which, the organization was organized; and (3) a statement of the purpose of the organization.

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On the Right Track: IRS Working Toward Interactive Form

Details: The accounting period ending date on the application should match the date stated in your by-laws, on financial statements, and on any prior returns filed. 5. Attach all required schedules. Some lines require supporting schedules. Check all line …

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IRS Provides Key Investment Piece: Guidance on Mission

Details: The IRS notes that this conforms with state investment standards reflected in laws like the Uniform Prudent Management of Institutional Funds Act (“UPMIFA”), which is enacted in most states (including Colorado). All in all, the IRS is acknowledging what socially responsible investors have known for a long time—that a reasonable and

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IRS Ruling on Same-Sex Marriage Has Implications for

Details: IRS Ruling on Same-Sex Marriage Has Implications for Nonprofits. On the heels of the Supreme Court decision in U.S. v. Windsor earlier this summer, the IRS has issued a ruling that clarifies the treatment of same-sex spouses for purposes of federal tax law. For nonprofits, the ruling should be a prompt to take a look at and potentially update

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IRS Posts Procedure for Reporting Tax-Exempt Organization

Details: The IRS has posted on its website the procedure for submitting complaints about a tax-exempt organization that may not be operating in compliance with federal tax laws and a link to Form 13909 Tax-Exempt Organization Complaint (Referral).. Background. Organizations granted tax-exempt status must abide by the requirements of Section 501(c)(3), specifically the organization must be …

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Colorado Public Benefit Corporations Part II: The Nuts and

Details: What laws will govern public benefit corporations? Because public benefit corporations are, in essence, a special type of for-profit corporation, they will be subject to all of the provisions of the Colorado Business Corporation Act and the Colorado Corporations and Associations Act, except to the extent that the new law imposes additional or

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Now is the Time to Weigh In on DAF Issues!

Details: Now is the Time to Weigh In on DAF Issues! We’ve posted previously about some potential changes or clarifications in the donor advised fund (“DAF”) landscape around private benefit and public support contained in Notice 2017-73. In addition, the Notice requested public comments on a few more DAF issues involving private foundations and

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Donor-Advised Fund Drama Unfolding

Details: Donor-Advised Fund Drama Unfolding. Private Foundation Alternatives September 20, 2017. While donor-advised funds (“ DAFs ”) have been a subject of scrutiny for more than 10 years now, no substantial legal changes have emerged since the Pension Protection Act of 2006 first introduced these charitable giving vehicles to heightened regulation.

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Changes in Donor Disclosure Rules for Some Exempt

Details: The IRS has just announced that certain exempt organizations will no longer need to provide donor information on their Form 990s. This does not affect the requirements for 501(c)(3) organizations—by far the most common type of exempt organization—but does affect 501(c)(4) social welfare organizations and 501(c)(6) trade associations.. As background, reporting of donor …

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IRS Makes 1023-EZ Data Available Online

Details: Recently the IRS announced that it has made publicly available the data submitted by nonprofit organizations using the short-form 1023-EZ Streamlined Application for Recognition of Exemption Under Section 501(c)(3).This move is part of a continuing effort by the IRS to provide information about the tax-exempt community, which also includes the publication of Form 990 …

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Colorado Public Benefit Corporations Part IV: Focusing on

Details: Today’s post is the last in a four-part series providing a perspective of Colorado’s new public benefit corporation law through a nonprofit lens. Its focus is on alleviating potential confusion about public benefit corporations’ eligibility for some of the benefits associated with traditional 501(c)(3) organizations, including their eligibility for funding from private foundations.

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Colorado Steps Up Charitable Fraud Enforcement Measures

Details: Colorado Governor Hickenlooper last week signed into law HB 16-1129, which provides for enhanced enforcement measures for charitable fraud under the Colorado Charitable Solicitations Act.The Colorado Attorney General’s Office and the Colorado Nonprofit Association worked together to bring the bill to the legislation earlier this year.

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New York Law Puts Spotlight Back on Nonprofit Governance

Details: New York recently enacted the Nonprofit Revitalization Act, which affects not only New York nonprofits, but nonprofits formed in other states, including Colorado, which fundraise in New York.In the wake of Sarbanes-Oxley (SOX), which became law in 2002, there was much discussion about whether the governance principles of SOX, which apply mostly to public companies, should also apply …

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