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Nonprofit Law for Colleges and Universities: Essential Questions and Answers for Officers, Directors, and Advisors

ISBN: 978-1-118-08855-5
672 pages
May 2011
Nonprofit Law for Colleges and Universities: Essential Questions and Answers for Officers, Directors, and Advisors (1118088557) cover image
A hands-on guide to the most pertinent and critical legal issues facing those who lead and manage tax-exempt colleges and universities

Nonprofit Law for Colleges and Universities is a practical, accessible guide to nonprofit law as it is specifically applicable to exempt colleges and universities, and their related entities, such as fundraising foundations, endowment funds, supporting organizations, for-profit subsidiaries, and limited liability companies.

  • Topics discussed will include governance, endowment funds management, the annual reporting requirements, and the unrelated business rules
  • Written by the country's leading authorities on tax-exempt organizations
  • Features essential, practical legal information in easy-to-understand English
  • Presented in question-and-answer format, divided according to major topic areas that are of interest to those who lead and manage tax-exempt colleges and universities

Designed for the management and leadership of colleges and universities, as well as others working in the higher education field, such as lawyers, accountants, and fundraising/development personnel, Nonprofit Law for Colleges and Universities allows readers to easily search for and find answers to questions, putting all the information they need right at their fingertips.

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Preface.

About the Authors.

Chapter 1 Nonprofit Organizations Law Generally.

Nonprofit Law Basics.

Federal Tax Law Basics.

Chapter 2 Nonprofit Educational Organizations.

Education Law Basics.

Demographics.

Nonprofit Law Basics.

Chapter 3 Acquiring and Maintaining Tax-Exempt Status.

Nonprofit and Tax-Exempt Entities.

Exemption Application Basics.

General Procedures.

Application Form 1023.

Form 1023, Schedule B.

Group Exemption.

Chapter 4 Acquiring and Maintaining Public Charity Status.

Public Charity Law in General.

Supporting Organizations in General.

Type III Supporting Organizations.

General Supporting Organization Questions.

Donor-Advised Funds.

Chapter 5 Governance.

Chapter 6 Private Inurement, Private Benefit, and Excess Benefit Transactions.

Introduction.

Private Inurement.

Private Benefit.

Intermediate Sanctions.

Chapter 7 Executive Compensation.

Concept of the Executive.

Payment of Reasonable Compensation.

Executive Compensation and the Governing Board.

Chapter 8 Legislative Activities.

Expenditure Test.

Social Welfare Organizations.

Trade, Business, and Professional Associations.

Reporting Requirements.

Chapter 9 Political Campaign Activities.

Basic Federal Tax Law Rules.

IRS Enforcement Efforts.

Federal Election Laws.

Reporting Requirements.

Chapter 10 Endowment Funds.

Endowment Fund Basics.

Demographics.

Endowment Fund Management.

Endowment Fund Investments.

Endowment Fund Distributions.

Endowment Fund Criticisms.

Chapter 11 Scholarships, Fellowships, and Other Student Assistance.

Scholarship and Fellowship Law.

Other Student Assistance Programs.

Chapter 12 Charitable Giving Rules.

Charitable Giving Rules Basics.

Percentage Limitations.

Conditional, Unrestricted, and Restricted Gifts.

Unique Forms of Donors.

Special Gift Situations.

Charity Auctions.

Planned Giving.

Charitable Remainder Trusts.

Pooled Income Funds.

Charitable Gift Annuities.

Charitable Lead Trusts.

Other Gifts of Remainder Interests.

Chapter 13 Fundraising Regulation.

Federal Law Requirements.

State Law Requirements.

Chapter 14 Unrelated Business Activities in General.

General Unrelated Business Rules.

Basic Rules.

Debt-Financed Property Rules.

Other Unrelated Business Rules.

Chapter 15 Contemporary Application of the Unrelated Business Income Rules.

Chapter 16 Entity Planning.

Joint Venture Basics.

Partnerships and Limited Liability Companies.

Tax-Exempt Organizations and Joint Ventures.

Tax-Exempt Organizations, Partnerships and Limited Liability Companies.

Information Reporting.

Chapter 17 Annual Information and Other Returns.

General Requirements.

Return Contents.

Unrelated Business Income Tax Returns.

Accounting Methods and Financial Statements.

Changes in General Operations.

Public Inspection and Recordkeeping Requirements.

Sanctions.

Chapter 18 Disclosure and Distribution Rules.

Annual Information Returns.

Exemption Applications.

Disclosure and Distribution Sanctions.

Provision of Goods And Services.

Fundraising Disclosure.

Other Documents and Requirements.

Index.

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