Nonprofit Law Series
Wagenmaker & Oberly, LLC
Starting a Flourishing Nonprofit – Corporate Development, IRS Tax-Exemption Applications, and Other Important Steps
What formational questions should practitioners address and resolve in helping clients develop new nonprofits? Careful attention to applicable nonprofit state law, bylaws, corporate policies, and governance dynamics is critical, along with due consideration for how best the nonprofit fits Section 501(c)(3) tax-exempt classification. Learn more about important legal compliance, best practices, and pitfalls in this session focusing on initial corporate development and successful tax-exempt applications - all to well equip nonprofit leaders for long-term vitality.
Jonathan Hwang, Wagenmaker & Oberly, LLC, Chicago
When Attorneys Serve on Boards- Ethical Dynamics and Boundaries Involving Confidentiality, Loyalty, and Conflicts
(1.0 Professional Responsibility credit)
Attorneys who accept the honor and responsibility of nonprofit board participation likely will face a wide variety of expectations about one’s skills, expertise, and ability to contribute meaningfully. This session will help attendees to successfully meet these expectations through addressing directors’ fiduciary duties, understanding related ethical dimensions, and then applying such principles to responsibilities including attorney competence, diligent representation, confidentiality, organizational and other communications, and pro bono service.
Sally Wagenmaker, Wagenmaker & Oberly, LLC, Chicago
Federal Tax Issues Affecting Nonprofits – UBIT, Political Activities, Form 990’s Public Support Test, and More!
How can nonprofits best guard their Section 501(c)(3) tax-exempt status? What activities may they engage in, and what are potential operational problems? This session addresses key legal compliance aspects along with related do’s and don’ts such as prohibited and restricted politically related activities, private benefit and inurement, potential penalties and revocation issues, applicability and calculation of the requisite “public support” test, additional “unrelated business income taxation” issues, and optimal IRS Form 990 information return reporting in connection with these tax-related areas.
Meaghan Falkanger, Wagenmaker & Oberly, LLC, Chicago
Special Aspects to Nonprofit Real Estate – Including Ownership, Transfer, Property Tax Exemption, and Third-Party Facility Usage
How are nonprofit real estate transactions similar to but different from commercial transactions? To what extent may property tax exemption be available? This session addresses buying, selling, or donating real estate within the nonprofit context, including corporate authorization required for such transaction, potential conflict of interest implications, and related tax and risk management aspects. Additionally, this session will explain legal qualification for religious, educational, and charitable property tax exemption – particularly how it differs from Section 501(c)(3) tax-exempt status, why all the details really matter, and how best to show that fee revenues do not violate the “view to profit” disqualification. Learn how to best structure facility usage arrangements in requisite non-commercial ways, to maximally protect property tax exemption.
Sally Wagenmaker, Wagenmaker & Oberly, LLC, Chicago
Pivotal Nonprofit Transitions – Mergers, Asset Transfers, and More
Corporate mergers and their legal kin, namely asset transfers and consolidations, sound like business concepts, but they bear enormous potential significance for nonprofit organizations. Nonprofits can use these corporate transitions as powerful strategic options for combining and leveraging shared visions and resources. This session covers the basics of nonprofit mergers, consolidations, and asset transfers to help nonprofit leaders determine when such key transitions might be a viable option – along with how best to accomplish each transitional process.
Paul Winters, Wagenmaker & Oberly, LLC, Chicago
Nonprofit Dissolution – Corporate Endings & Related Compliance
When should a nonprofit cease its operations, and what are the key accompanying legal considerations for practitioners and their clients? Learn about voluntary, administrative, and judicial dissolutions, and why a voluntary dissolution may often be preferable. Learn how best to protect individual nonprofit leaders from potential individual liability, along with other tips and guidance for guiding clients well through potential challenges arising from related nonprofit corporate and tax-exempt requirements.
Paul Winters, Wagenmaker & Oberly, LLC, Chicago
