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New York Changes Sole Member Rule

Effective July 1, the New York State legislature has modified a key provision of the Not-for-Profit Corporation Law (NPCL) regarding the ability of New York non-profits to establish a sole member structure.  This change may require immediate adjustment to legal structures by affected non-profits.

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What I Learned from Teaching an Exempt Organizations Class

Most of my blog posts focus on current legal developments, however, for this one I thought I would mix things up and share what I learned while guest lecturing on exempt organizations for a recent law school “Law of Higher Education” class.

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Final Partnership Audit Regulations May Impact Exempt Organizations

In the waning days of 2018, the IRS released final regulations on the new partnership audit rules under the Bipartisan Budget Act of 2015 (BBA). While these rules are typically thought of in the for-profit context, they can have a significant impact on exempt organizations whose investment portfolios include alternatives.

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Parsing the Parking Pickle: IRS Issues New Guidance on Employee Parking UBIT

The IRS has issued preliminary guidance on an unexpected and controversial provision of the Tax Cuts and Jobs Act (the “Act”): a new UBIT tax on non-profit employee parking.

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Attorney General Issues Guidance on Sale of Non-Profit Nursing Homes

Earlier this month, the New York Attorney General issued a new guidance document regarding the sale of non-profit nursing homes to for-profit buyers.  

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