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Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “Developed by researchers at the Rand Corp., a California-based think tank, the study found roughly 550,000 people were admitted for gunshot wounds from 2000 to 2016, representing billions of dollars in health-care costs annually, as well as untold pain and suffering.” Washington Post “The Biden administration’s support of a petition to ease patent protections for vaccines elevated the global battle against the coronavirus as a central plank of U.S. foreign policy, but myriad hurdles…
After a domestic nonprofit takes the first exciting steps of incorporating and filing its Application for Recognition for Exemption (Form 1023) with the IRS, it may be surprised to find out that it may take the IRS 6 months, or even much longer, to grant the nonprofit its official tax-exempt status. An organization that is ready to go out and start fundraising and receiving donations to further its mission may not want to wait that long!  The good news is, you don’t necessarily have to, however, there are some requirements and risks involved. First, regardless of whether or not you’ve…
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “India considered itself to be “in the endgame” of the pandemic just a few weeks ago. Now it is the global epicenter. The country recently surpassed the devastating milestone of more than 345,000 new COVID-19 cases in a single day, the biggest total recorded globally since the pandemic began.” The Atlantic “Last week, Latin America accounted for 35 percent of all coronavirus deaths in the world, despite having just 8 percent of the global…
Georgetown Law held its 38th Annual Representing and Managing Tax-Exempt Organizations conference (virtual edition) last week. Among the sessions at the conference was a perennial favorite: Update on Key Current Developments presented by exempt organizations attorney Bruce Hopkins. Below are some of the many highlights from his presentation: IRS TE/GE FY 2021 Program Letter IRS TE/GE FY 2020 Accomplishments Letter Exempt Organizations division (EO) closed 95,864 determination applications in fiscal year 2020, including 85,509 approvals, 79,730 of which were approvals for 501(c)(3) status. EO completed examinations of 3,240 returns in fiscal year 2020, including the Form 990 series (990, 990-EZ,…
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “The former Minneapolis Police officer who knelt on George Floyd’s neck for more than 9 minutes last year was found guilty Tuesday of all three charges against him in one of the most consequential trials of the Black Lives Matter era.” CNN “Attorney General Merrick Garland on Wednesday announced a sweeping Justice Department probe into the practices and culture of the Minneapolis Police Department, elevating the federal government’s role a day after former officer…
This is our second post on Georgetown Law’s annual nonprofit governance conference held virtually last week – 2021 Nonprofit Board Governance: Identifying Issues, Assessing Effectiveness, Managing for Organizational Success. Here are more highlights from Day One: The Board’s Role Anne Wallestad, CEO of BoardSource, discussed the role of the board of directors of a nonprofit and the ingredients and practices around board oversight: There are three essential components to the board’s role: Setting direction and strategy Ensuring resources Providing oversight Oversight ingredients: Board composition focused on independence and all of the board’s functions Appropriate board size High standards for director…
Stay informed of the week’s notable events (including the Skoll World Forum) and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “Police fatally shot a man after a traffic stop on Sunday in suburban Minneapolis, sparking clashes between hundreds of protesters and officers in an area where tensions are already high during the ongoing trial of former police officer Derek Chauvin. The victim’s family identified him as 20-year-old Daunte Wright.” Washington Post “After President Joe Biden declared Wednesday that the US must shift focus from a bloody and intractable war…
Georgetown Law’s annual nonprofit governance conference was held virtually earlier this week – 2021 Nonprofit Board Governance: Identifying Issues, Assessing Effectiveness, Managing for Organizational Success. The opening session was presented by James G. Sheehan, Chief of the New York Attorney General’s Charities Bureau, and Anne Wallestad, CEO of Board Source. This post will highlight part of Sheehan’s presentation on a regulator’s perspective. We’ll highlight learnings from Wallestad’s presentation on a future post. Sheehan cited Why Bad Things Happen to Good Organizations: The Link Between Governance and Asset Diversions in Public Charities by Erica Harris, Christine Petrovits & Michelle H.…
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “On Wednesday, the Treasury Department released the details of Mr. Biden’s tax plan, which aims to raise as much as $2.5 trillion over 15 years to help finance the infrastructure proposal. That includes bumping the corporate tax rate to 28 percent from 21 percent, imposing a strict new minimum tax on global profits and cracking down on companies that try to move profits offshore.” NY Times “Amid steady progress with coronavirus vaccinations, the U.S.…
California nonprofit corporations (and foreign nonprofit corporations operating in California) should be aware of several recent changes that impact filings with the California Secretary of State (SoS). SB 522 Filings with the SoS must include the entity name and number as they exist on the Secretary of State’s records. If filing a certified copy of a merger document from another state (e.g., California corporation merges into a foreign corporation and files the certified merger document with the SoS), an attachment with the California entity number must be included. “Any instrument submitted to the Secretary of State for filing pursuant to…