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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Health

Date & Time
  • event Date

    Tuesday, December 13, 2022

  • 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.

$297.00

This course is $0 with these passes:

CLE
ALL

This CLE will guide healthcare counsel on the implications of a merger or acquisition using donations. The panel will discuss how hospitals and health systems can leverage the cy pres doctrine to ensure the obligations are met and offer best practices to align hospitals and healthcare systems with donor requirements.

Faculty

JASON J KOHOUT
Partner
Foley & Lardner LLP

Mr. Kohout is chair of the firm’s Family Offices Team and assists families and business owners in areas of tax planning, business succession, and philanthropy. In addition, he works extensively with nonprofit organizations in the areas of governance, fundraising and tax exemption matters. Mr. Kohout’s broad experience, in conjunction with his in-depth knowledge of tax, corporate and trust law, allows him to provide creative and practical solutions for his clients, especially for clients that own businesses or have philanthropic interests or nonprofit organizations focused on governance or fundraising.

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Kevin B. Melvin
Legal Counsel and Associate Chair of Gift Planning
Mayo Clinic

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Jeffrey L. Carmichael
Attorney
Hall, Render, Killian, Heath & Lyman PC

Mr. Carmichael concentrates his practice primarily in the areas of tax, tax exemption and corporate and business services. In particular, he advises organizations that are exempt from federal and state income taxes, including hospitals, health systems, hospital foundations and other similar organizations - on such issues as applying for tax exemption, avoiding improper benefits to private parties, answering unrelated business income tax questions and otherwise complying with the ever-evolving requirements for maintaining tax-exempt status.  Mr. Carmichael frequently speaks about issues such as these for clients and at other business gatherings, and he complements his professional activities by teaching classes on nonprofit organizations at area law schools.  Mr. Carmichael also assists tax-exempt and for-profit organizations with general business and corporate matters, including business transactions, tax planning and governance issues.

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Description

Many hospitals and health systems depend on charitable donations, endowments, and other gifts. However, many of these donations come with conditions. A merger or acquisition or other change in circumstances will likely impact the hospital's or health system's ability to comply with the requirements set forth with the donations. In the case of a merger or acquisition, the board should consider whether the new entity will be eligible to receive the funds.

Even without a merger or acquisition, hospitals and health systems must meet the conditions of using the donation funds consistent with the hospital's mission. Agreements on the gifts' use are typically written and include cy pres considerations, which allow the hospital to identify a purpose as close as possible to the original intent.

Hospital organizations may need to adapt their donation strategies and align the current circumstances with the donation's original intent or requirements.

Listen as our authoritative panel of healthcare attorneys addresses the implications of a merger or acquisition on the use of donations. The panel will discuss how hospitals and health systems can leverage the cy pres doctrine to ensure the obligations are met and offer best practices to align hospitals and healthcare systems with donors.

Outline

  1. Charitable donations and the implications of mergers, acquisitions, or changes in circumstances
  2. Hospital governance
  3. Cy pres doctrine
  4. Best practices for meeting donation requirements

Benefits

The panel will review these and other key issues:

  • What impact can a merger or acquisition have on a hospital's charitable funds?
  • What happens if the intended purpose of the gift becomes obsolete?
  • How can a hospital or health system leverage the cy pres doctrine to ensure compliance with the intent of the donor's wishes?
  • What steps should healthcare counsel take to ensure compliance with the obligations of endowments and other charitable donations?