I seem to have been on a writing sabbatical for the last year. Over the course of the year, I have discovered a few new planning ideas to share going forward. From previous articles you already know that I grew up in the...more
Many founders are familiar with tax-exempt charitable organizations. These nonprofit entities—which are commonly known by reference to Section 501(c)(3) of the Internal Revenue Code—are operated exclusively for a broad range...more
On September 14, 2022, The New York Times published an article detailing the Chouinard family’s transfer of the majority of their ownership interests in Patagonia to a 501(c)(4) nonprofit organization....more
Our advice is often sought about forming a charitable organization for personal reasons, corporate philanthropy or to house the charitable/educational activities of a trade association or a social welfare association. There...more
In Texas, property owners associations (“Associations”) are typically non-profit corporations created under Chapter 22 of the Texas Business Organizations Code. As a result, many Associations want to know if they qualify for...more
Use Form 1024-A to Apply for Recognition of Exemption under IRC Section 501(c)(4) - Organizations that choose to apply for recognition of exempt status under Internal Revenue Code (IRC) Section 501(a) as an organization...more
New requirement for organizations intending to operate under Section 501(c)(4): Submit Form 8976 - New legislation enacted at the end of 2015 added section 506 to the Internal Revenue Code. Section 506 requires an...more