The firm’s nonprofit organization practice addresses the broad range of issues which nonprofit organizations face. Nonprofit organizations must tackle many of the same issues that for-profit organizations confront – how should the organization be structured (e.g., corporation, trust, or limited liability company), in what state should the organization be formed, and what is required to oversee its operations properly? With nonprofit organizations, however, that is just the beginning of the questions it must answer. Nonprofit organizations must also determine if it is necessary and appropriate to apply for tax-exempt status with the IRS and any state taxing authorities; and, if such application is made, how that organization will be classified (e.g., religious organization, school, public charity, or private foundation). Finally, such organizations must typically register with a state’s attorney general. The firm’s nonprofit practice helps our clients navigate and address all of these issues. We draft formation documents, applications for exempt status with both federal and state authorities and registrations with states’ attorneys general.
For some nonprofit organizations, these issues represent the bulk of their concerns. Other organizations, however, face additional challenges, such as merging with other nonprofit organizations, relocating their operations to another state, entering into complex structures with for-profit entities, applying for exemptions from local property taxes, and, if necessary, dissolving and terminating the entity. We have experience handling all of these matters.
Finally, a nonprofit organization’s relationship with its donors is the key to its success. To that end, we assist both organizations and individuals with a wide variety of charitable giving issues (often together with our Estate Planning, Wealth Transfer and/or Trust Administration and Probate groups), whether those issues relate to a simple donation of cash or a complex structure involving deferred giving of real estate, corporate stock or other assets.