Welcome to the inaugural edition of The Real Impact. In this edition, we discuss three strategic alternatives to consider for nonprofit integration and insights on the proposed regulations on donor advised funds. Guest author...more
Under Armour on Friday said it has agreed to pay $434 million to settle a 2017 class action lawsuit accusing the sports apparel maker of defrauding shareholders about its revenue growth in order to meet Wall Street forecasts....more
Georgia and Kentucky Allow Donor Standing for Endowment Violations - On April 9, 2024, Kentucky’s governor signed Senate Bill 70, which will take effect on July 15, 2024, and will amend Kentucky’s version of the Uniform...more
For many charitable institutions, accepting gifts subject to certain donor-imposed restrictions is in the normal course of business. While these restricted funds are quite common, their usefulness can occasionally become...more
Restricted funds are monies donated or bequeathed to a charity or non-profit organization such as a museum that come with limitations imposed by the donor on the investment, management or use of the funds. Examples include a...more
When considering how to make a substantial gift to a charitable corporation, one should not rule out making it indirectly via assignment to an independent trustee. First, an independent trusteeship facilitates proper asset...more
Earlier this month, a Missouri state court allowed Webster University to reclassify various donor-restricted endowment funds as unrestricted endowment funds so the funds could be held as collateral to help Webster meet a 75%...more
Over the past several years, the U.S. Department of the Treasury has been preparing guidance concerning donor-advised funds (DAFs), which are accounts owned and controlled by public charities over which individual or...more
In the world of college athletics, the introduction of name, image, and likeness (NIL) rights on 1 July 2021 revolutionized the landscape for student-athletes, presenting new challenges and opportunities for student-athletes....more
Charities should address several issues when considering whether to accept donations of digital assets, defined to include cryptocurrency, stablecoins, and non-fungible tokens (NFTs)....more
Mayor Adams Campaign Investigation- Federal agents seized Mayor Adams’ electronic devices early last week, as investigations into his campaign continue. This follows a raid at the home of Adams’ chief fundraiser, Brianna...more
It appears that many of the country’s colleges and universities believe they have not already contributed enough to the decline of American education and to the erosion of our society, generally. These institutions of...more
Kansas Allows Donor Standing Under UPMIFA - Kansas’ Donor Intent Protection Act took effect this summer on July 1, 2023, amending Kansas’ version of the Uniform Prudent Management of Institutional Funds Act (UPMIFA,...more
Donors with ownership interests in privately held companies (i.e., limited liability companies, corporations, partnerships) have the ability to utilize the interest to make a charitable gift. This strategy becomes...more
On July 24, 2023, less than a month after the Supreme Court's landmark decision striking down affirmative action practices in college admissions, the U.S. Department of Education, Office for Civil Rights (OCR) has launched an...more
The U.S. Department of Education launched a civil rights investigation into Harvard University’s (“Harvard”) use of legacy and donor admissions preferences, following the United States Supreme Court’s recent decision to...more
On July 3, 2023, the Chica Project, African Community Economic Development of New England (ACEDONE), and Greater Boston Latino Network (GBLN) (collectively the “Complainants”) filed a civil rights Complaint with the...more
Are you looking for a way to decrease your income tax obligation after retirement while supporting your alma mater or a favorite charity? A charitable gift annuity may be the right answer for you....more
Welcome to Compliance Notes from Nossaman’s Government Relations & Regulation Group – a periodic digest of the headlines, statutory and regulatory changes and court cases involving campaign finance, lobbying compliance,...more
Campaign Finance & Lobbying Compliance - Former president Trump's campaign raised more than $5 million in the first 48 hours after reports broke that he had been indicted by a grand jury in Manhattan–receiving more than $4...more
As charitable grant making becomes more sophisticated and program oriented, granting organizations are employing increasingly complex and comprehensive grant agreements. In addition to standard terms describing grant amounts...more
Federal omnibus spending bill rolls back some Medicare payment cuts scheduled for 2023, 2024 - Buried within the $1.7-trillion spending package signed by the President on Dec. 29 was partial relief for a planned 4.5% cut...more
At the end of the year, many people think about giving to charities, especially people who are seeking additional tax deductions. In fact, statistics show that as much as 30% of charitable giving is done in the last month of...more
The US Department of the Treasury and the Internal Revenue Service issued its most recent Priority Guidance Plan Joint Statement (the Plan) on November 4, 2022. The Plan details more than 200 priorities for the 12-month...more
Cybersecurity is a growing concern for all nonprofit organizations, especially those that store, process, and transmit sensitive data. While it is common to think of the cyber issue as relevant to digital communications and...more