Disqualified persons and foundation managers can be personally liable for excise taxes for certain transactions even where it is clear that the foundation has suffered no loss

Ready Reference

Court approves cy pres of trust to conversion foundation

Lessons from Litigation

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November Webinar

Fiscal Sponsorship: For the Funders, Sponsors and the Sponsored
Wednesday, November 12, 2025
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Fiscal sponsorship is a time-honored method to spawn new charitable activity when the people with the vision and the energy to do the work do not have recognition of federal tax-exempt status.

It can function smoothly as an incubator of important new projects. Or it can function badly as a serious trap for the unwary.

This webinar will define fiscal sponsorship and discuss the most common types of sponsorship arrangements. It will discuss the advantages and disadvantages of each type and the special considerations for funders, sponsors, and the sponsored. It will review specific critical provisions of sponsorship agreements, particularly termination and exit issues.

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Most nonprofits don't spend a lot of time looking at their Bylaws until there is a question or a dispute. That's when you need bylaws that are clear and unambiguous, so your questions on how to proceed are already answered. That's when bad bylaws can lead to unnecessary controversies or even costly litigation. Nonprofit Issues editor Don Kramer will review your current or proposed Bylaws to see if they work for you.

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SAY THAT AGAIN?

May 30, 2025

The loan agreement says: “All contractual rates of interest chargeable on the outstanding Term Loans shall continue to accrue and be paid even after default, maturity, acceleration, judgment, bankruptcy, insolvency proceedings of any kind or the happening of any event or occurrence similar or dissimilar.”

A former banker friend says that “any event or occurrence similar or dissimilar” is some lawyer “fancy talk” for “the kitchen sink!”

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