by Seton_Tethos | Dec 14, 2012 | Uncategorized
A donor potential may have a legitimate claim for breach of fiduciary duty and fraud against both the the organization and the individual members of the Board if a deduction taken by a donor were disallowed. In addition, even if the deduction were not disallowed, a...
by Seton_Tethos | Dec 12, 2012 | Uncategorized
The legal rules regarding UBIT are relatively important as the trend for “social enterprise” becomes more and more prevalent in both nonprofits and for profits. Due to the shrinking of governmental budgets, local, state and federal, funds are being...
by Seton_Tethos | Dec 12, 2012 | Uncategorized
As many practitioners know, beginning January 1, 2012, the State of California now recognizes the “benefit” and “flexible” corporation. While there are distinctions between the two and “general” corporation, they have a capital...
by Seton_Tethos | Dec 12, 2012 | Uncategorized
In May 2011, the IRS may good on its promise to “wipe out” the 501c3 charity status of approximately 275,000 charities for failing to file three consecutive years of returns. Many suspected and thought this was good as it would wipe out “small”...
by Seton_Tethos | Dec 12, 2012 | Uncategorized
If you are a Church, Temple or Synagogue, AND, you are leasing your premises, you be able to utilize the property tax exemption entitled to Churches pursuant to Section 2602 of the California Revenue and Taxation Code. In a nutshell, this code states that,...
A Step In The Right Direction For The Excise Tax
Y Combinator: Inspiring Social Enterprise