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July 1-15, 2006

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July 1-15, 2006

July 1-15, 2006

Court Overturns Excess Benefit Taxes Imposed on Sale of Charities to For-profits
Fifth Circuit says Tax Court erred in imposing $69.7 million tax on sale of home health care agencies to directors

“Conversion Foundation” Denied Bequest To Hospital Whose Assets Were Sold 
Courts conclude that donors intended to benefit specific facility now owned and operated by another

Grassley Continues to Push Charity Reform Provisions
Attaches provisions to telephone tax repeal bill, urges IRS to implement more oversight

Ready Reference Page
Bylaws Function as “Constitution” Of Nonprofit Corporations

Regulation of corporate governance demands as much care and thought as the Constitution of a country

Issues Notes

  • Kramer, Sikes to lead program on representing nonprofits
  • Nonprofit Issues to answer questions weekly
  • Thursday with the Editor, July 27

To the Point

If I want to pay for a service to a 501(c)(3) organization, do I get a personal tax benefit or write-off for paying the cost of that service?

Lessons from Litigation

  • Court dismisses claim to rescind gift deed retaining life estate for donor
  • Statute that board “should” reflect diversity does not require new election procedures

Tax Matters

  • Low-income apartments lose real estate exemption

Employment Law

  • Nonprofit employee may be fired for vote as member of organization
  • Religious school exempt from unemployment comp

Say That Again

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