Understand the legal, accounting, and operational requirements of qualified social clubs recognized by the IRS.
This presentation will provide you with the differences between tax-exempt clubs and taxable clubs, as well as events that may cause loss of exempt status. The course will include a detailed discussion related to non-member income, which results in unrelated business taxable income and could result in disqualification for exemption, featuring an analysis of Revenue Procedure 71-17. For over 45 years, Revenue Procedure 71-17 has provided meaningful guidance on determining the effects of non-member income derived from the general public on 501(c)(7) exemption. Over that time, it remains relevant even though the tax law has changed, and additional guidance has augmented its guidance.
Agenda
Faculty
Brett R. Harris, Esq.
Wilentz, Goldman & Spitzer, P.A.
- Business, nonprofit, and technology attorney, shareholder in the Woodbridge, New Jersey office of Wilentz, Goldman & Spitzer, PA
- Admitted to practice in the states of New Jersey and New York
- Has a corporate transactional practice, focusing on counseling charities, foundations, and other nonprofits on their exempt status, governance, and compliance, and handles intellectual property and cybersecurity matters
- Member of the Legal Working Group for the Center for Nonprofits, an umbrella organization for New Jersey 501(c)(3)s providing advocacy, resources, training, and information to strengthen nonprofits and help them thrive
- Appointed by New Jersey Supreme Court as a Trustee of The IOLTA Fund of the Bar of New Jersey, currently serving as Treasurer
- Serves on the Board of Trustees of the New Jersey Chapter of the Association of Fundraising Professionals, chairing the Chapter’s Government Relations and Advocacy Committee and is a Member of the Steering Committee for the Nonprofit Forum of Commerce and Industry Association of New Jersey
- Member of the Board of Trustees of the New Jersey Women Lawyers Association, serving as co-chair of the Grants/Charitable Giving Committee and previously General Counsel to the Association; director and past chair of the Business Law Section of the New Jersey State Bar Association; trustee of the New Jersey State Bar Association Women in the Profession Section; member of the New Jersey State Bar Association’s Bylaws and Resolutions Standing Committee and member of the American Bar Association’s Women Rainmakers Committee
- J.D. degree, New York University School of Law; B.A. degree, cum laude, Washington and Jefferson College
- Follow her on LinkedIn, Facebook, and Twitter @BrettHarrisEsq for posts on business and nonprofit matters, technology law, and issues of interest to professional women
- Can be contacted at [email protected] or 732-855-6122
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