Identify and understand the underlying tax principles involved with joint ventures and for-profit subsidiaries.
In a post-COVID time of inflation and economic uncertainty of economic upheaval, nonprofits everywhere are struggling for new sources of funding and expense sharing as need for their services grows exponentially. Simultaneously, the nonprofit sector has seen an influx of social enterprises - businesses designed not just to make a profit, but to further social goals. Given these two trends, more and more nonprofits find themselves considering for-profit activities such as joint ventures in order to address their funding needs and the growing needs of the constituencies they serve. This topic will cover the basic tax issues for organizations contemplating entering for-profit/nonprofit joint ventures, including IRS pronouncements and court cases to date It will also address and some drafting tips and practical issues that may arise in forming a joint venture. This presentation will help attorneys, nonprofit administrative personnel, and nonprofit financial advisors understand the parameters that govern joint ventures as they consider entering into new revenue arrangements.
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Exemption Issues
- Organizational and Operational Tests
- Private Inurement and Private Benefit
- Scope of Allowable For-Profit Activities for Exempt Organizations
UBTI Issues
- General Background
- UBTI Taxation of Partnerships
- C Corps, S Corps and Dividend as UBTI
Revenue Ruling 98-15: The Good, the Bad, and the Ugly
- Background: Whole Hospital Joint Ventures
- The Good Example
- The Bad Example
- The Ugly: What Happens When You Are Neither Good nor Bad
Post Revenue Ruling 98-15 Guidance
- Redlands
- David's
- Ancillary Joint Ventures
- Updates Since St. David's
Practical Tips and Drafting Hints
- Purpose Statements in Joint Ventures
- Board Control
- Management Agreements
- Debt Structures, Liabilities, and Other Traps
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 20, 2024.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IL CLE 1.0
- This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 63 Minutes.
- NJ CLE 1.3
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- NJ CLE 1.3
- VT CLE 1.0
- WV MCLE 1.3
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Elaine Waterhouse Wilson
- Professor of Law and prior Associate Dean for Academic Affairs, West Virginia University College of Law
- Teaches federal income taxation, taxation of business entities, estate and gift taxation and estate planning, nonprofit organizations, contracts, and other areas of transactional law
- Previously a partner in private practice in the Tax-Exempt Organizations Group of the Chicago office of Quarles & Brady LLP, 2007 to 2011; an associate and then partner in the Estate Planning Group of the Indianapolis office of Barnes & Thornburg LLP, 1996 to 2007; and an associate in the Individual Client Practice of Sullivan & Cromwell in New York City, 1993 to 1996
- Prior Chair, Charitable Group of the American Bar Association’s Section on Real Property, Trusts, and Estates; Past Chair of the ABA Charitable Organizations Group
- WVU College of Law’s 2014 Professor of the Year; 2015 WVU Foundation Professor of the Year
- Listed in The Best Lawyers in America, 2007 to present, nonprofit/charities law
- Named as one of the 40 Illinois Attorneys Under 40 To Watch, Law Bulletin Publishing Company, Chicago Lawyer magazine and The Chicago Daily Law Bulletin, 2009
- Received the 2006 Pro Bono Publico Award, Indiana Bar Foundation
- J.D. degree, magna cum laude, Boston University School of Law; B.A. degree, magna cum laude, Boston University College of Liberal Arts
- Can be contacted at [email protected] or 304-293-7802
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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