In a time of economic upheaval, nonprofits everywhere are struggling for new sources of funding and expense sharing.
Simultaneously, the nonprofit sector has seen a growth in 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. This presentation will cover the basic tax issues of for-profit/nonprofit joint ventures, applicable IRS pronouncements and court cases to date, and some drafting tips and practical issues that may arise in forming a joint venture.
Elaine Waterhouse Wilson
- Associate professor, West Virginia University College of Law, teaching federal income taxation, taxation of business entities, estate and gift taxation, tax-exempt organizations, and nonprofit organizations
- 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
- Named Nonprofit Lawyer of the Year for Chicago for 2012 by the Leading Lawyers Network
- Chair, Charitable Group of the American Bar Association’s Section on Real Property, Trusts and Estates; immediate 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
- State and local tax director with more than 20 years of experience, including 13 years with PricewaterhouseCoopers LLP
- Experience in the abandoned and unclaimed property area since the mid-90s
- Highlights of prior speaking engagements and articles include: Tax Executives Institute in Phoenix, Arizona, September 2012; Unclaimed Property Professionals Organization Annual Conference in Orange Grove, California, March 2010; Abandoned and Unclaimed Property Session at the Council on State Taxation's 40th Annual Seminar in Las Vegas, Nevada, October 2009; and PricewaterhouseCoopers LLP Abandoned and Unclaimed Property Briefing, Issue 4 – 2012, July 2012
- California and New Jersey CPA
- Can be contacted at 858-677-2484 or [email protected]
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