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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Law

Date & Time
  • event Date

    Wednesday, December 11, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$347.00
CLE
CPE
ALL

This CLE/CPE course will prepare tax counsel to nonprofits to properly establish joint ventures or other business alliances, including structuring the business entity, defining the scope of activities and intended operations, maintaining tax-exempt status, and addressing UBIT and Form 990 disclosures.

Faculty

Michael I. Sanders
Partner
Blank Rome LLP

Mr. Sanders focuses his practice in the area of taxation, particularly in matters affecting partnerships, limited liability companies, S-corporations, real estate, tax controversy, and estate planning, including trusts and estates. He also has a large practice in the area of exempt organizations involving healthcare and low-income housing, associations and joint ventures between for-profits and nonprofits, as well as structuring New Markets Tax Credit ("NMTC") and Historic Tax Credit ("HTC") transactions. He is the author of Joint Ventures Involving Tax-Exempt Organizations (3rd Ed., 2007; 4th Ed., 2013) which was recently cited by the majority opinion in the widely covered U.S. Supreme Court decision in Burwell v. Hobby Lobby Stores, Inc. He previously served as an attorney-advisor to the assistant secretary of tax policy at the Office of Tax Legislative Counsel.

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Elka T. Sachs
Partner
Krokidas & Bluestein, LLP

Ms. Sachs concentrates her practice on the corporate, transactional and tax needs of the firm’s clients. She represents non-profit and public entities, including health and human service providers, charter schools and other educational institutions, and financial institutions which lend to non-profits and public entities.

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Description

Tax practitioners representing nonprofits must understand the different types of structures that can be used for joint ventures and affiliations. The participants' tax status and nature of the venture's activities are critical in determining potential tax implications.

Counsel must provide guidance to clients that are tax-exempt participants in a joint venture or affiliation regarding its exempt status, the potential for intermediate sanctions, private benefit issues, unrelated business income tax, Form 990 disclosures, and maintaining its public charity status under Section 509 of the IRC.

In addition to tax statutes and regulations, our panel will review IRS rulings and other guidance with respect to joint ventures. While some guidance is sector-specific, such as joint ventures in the healthcare, university, and low-income housing arenas, much is broadly applicable.

Listen as our authoritative panel of tax practitioners addresses key tax issues facing nonprofit or tax-exempt organizations in joint ventures or other business affiliations to choose the best type of structure for the venture, examine the nature of activities and operations of the venture, and deal with other critical issues. The panel will discuss joint ventures using partnership as well as corporate structures and will also discuss tax challenges from the perspective of the for-profit entity partnering with the NPO.

Outline

  1. Joint venture structures
    1. Joint ventures using partnerships
    2. Joint ventures using corporations
    3. Impact of partnership audit rules
  2. Risks to nonprofit organizations in establishing a joint venture
  3. Nature of the activities and operations of the venture
  4. UBIT, required disclosures, and other issues
  5. New Markets Tax Credits and other tax incentives

Benefits

The panel will review these and other key issues:

  • What factors should tax counsel consider in evaluating the potential benefits and risks with particular entity structure or business models for nonprofits?
  • What issues should counsel to for-profits consider?
  • What is the IRS' present ruling policy?
  • What are the potential risks to a nonprofit's tax exemption when establishing a joint venture?
  • When is unrelated business income generated?
  • How does the tax status of the participants impact the tax consequences of a venture or affiliation?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Recognize the tax issues that arise when nonprofit organizations establish joint ventures or other business alliances
  • Determine how to best structure or restructure the allied business entity
  • Discern risks to maintaining the organization's tax-exempt status
  • Identify possible UBIT and additional Form 990 disclosures

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules; supervisory authority over other preparers/accountants. Specific knowledge and understanding of cost allocation principles; familiarity with government standards for nonprofit organizations receiving federal grant monies.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).