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OnDemand Course

Nonprofit Joint Ventures - Partnering with For-Profit Organizations

Identify and understand the underlying tax principles involved with joint ventures and for-profit subsidiaries.

Tax-exempt organizations participate in business partnerships and other newer forms of joint ventures. The nature of the venture, the relationship between the nonprofit and the for-profit party and degree of control over the joint venture requires an understanding of federal income tax issues. This material will include identifying potential loss of exempt status, unrelated business income tax, partnership tax reporting and other tax reporting requirements. It will also include the use of for-profit subsidiaries and planning considerations for maintaining their separate corporate identity. This material will help you identify and understand the underlying tax principles involved with joint ventures and for-profit subsidiaries. In addition, we will examine guidance for the consideration and adoption of a joint venture policy which is responsive to the questions in Part VI of Form 990.

89 minutes
Certificate of Completion
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Why Lorman?

Over 34 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

Income Tax Considerations

  • What Is a Joint Venture?
  • Loss of Tax-Exemption
  • Unrelated Business Income

Partnership Tax Reporting

  • Pass-Through of Income From Joint Venture
  • Cases and Rev. Rul. 98-15 and Rev. Rul. 2004-51

For-Profit Subsidiaries

  • Attribution vs. Separate Corporate Identity
  • Agency Relationships
  • Controlled Corporations and Subsidiaries

Reporting and Planning for Joint Ventures

  • Disclosures: Schedule R and Form 990, Part VI
  • Joint Venture Policy and Planning
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Why Lorman?

Over 34 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

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on September 24, 2019.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

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.

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Why Lorman?

Over 34 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

Louis E. Michelson, Esq.

Louis E. Michelson, Esq.

Louis E. Michelson, A Professional Corporation

  • Principal with Law Offices of Louis E. Michelson, A Professional Corporation
  • Practice focuses on planning, charitable giving and other federal, state and local taxation issues for tax-exempt organizations
  • He advises public charities, private foundations, religious and educational organizations, and other nonprofit organizations on issues of formation, management, joint ventures, planned giving and board governance
  • Speaks regularly on nonprofit and tax exemption legal matters
  • Lecturer at UCLA Extension on tax issues for nonprofit organizations
  • Immediate past chair of the Nonprofit Organizations Committee of the Business Law Section of the California Lawyers Association
  • J.D. degree, UCLA School of Law; M.S. degree in accountancy, DePaul University; B.A. Degree, with general honors, University of Chicago
  • Can be contacted at 310-843-0700 or [email protected]
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Why Lorman?

Over 34 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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Product ID: 406229
Published 2019
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