Nonprofit Law for Colleges and Universities: Essential Questions and Answers for Officers, Directors, and Advisors

Praise for nonprofit law for colleges and universities

"This book covers an amazingly broad array of important issues and presents even the most complicated legal doctrines in descriptions that are to the point as well as easy to follow. It is an absolute must–have for any college or university general counsel and chief financial officers, among others." Ellen Aprill, John E. Anderson Professor of Tax Law, Loyola Law School, Los Angeles, California

"The organization of Nonprofit Law for Colleges and Universities is very user friendly.? The authors pose and answer over a thousand questions about qualification and operational issues surrounding nonprofit educational institutions, many of which advisors would not know to ask unless they consulted this book.? Their answers are easily understandable, yet detailed enough to provide a complete picture of the surrounding law.? I′ll have a copy on my desk and I′ll make sure our general counsel does as well." Stephen W. Mazza, Dean and Professor of Law, University of Kansas School of Law

A hands–on guide to the pertinent legal issues facing tax–exempt colleges and universities

Answering the most frequently asked questions about the general operations of a college or university, Nonprofit Law for Colleges and Universities is a practical, accessible guide to nonprofit law as it relates to colleges and universities and their related entities, such as fundraising foundations, endowment funds, supporting organizations, for–profit subsidiaries, and limited liability companies.

With guidance from leading legal authorities in the nonprofit sector, this definitive one–volume source on nonprofit laws for institutions of higher learning presents:

A question–and–answer format, divided according to major topic areas that are of interest to those who lead and manage colleges and universities

In–depth discussions of topics including governance, endowment funds management, the annual reporting requirements, and the unrelated business rules

Essential, practical legal information in easy–to–understand English

Designed for the management and leadership of colleges and universities, as well as others working in the higher education field, such as lawyers, accountants, and fundraising/development personnel, Nonprofit Law for Colleges and Universities allows readers to easily search for and find answers to questions, putting all the information they need right at their fingertips.

About the Authors.

Chapter 1 Nonprofit Organizations Law Generally.

Nonprofit Law Basics.

Federal Tax Law Basics.

Chapter 2 Nonprofit Educational Organizations.

Education Law Basics.

Demographics.

Nonprofit Law Basics.

Chapter 3 Acquiring and Maintaining Tax–Exempt Status.

Nonprofit and Tax–Exempt Entities.

Exemption Application Basics.

General Procedures.

Application Form 1023.

Form 1023, Schedule B.

Group Exemption.

Chapter 4 Acquiring and Maintaining Public Charity Status.

Public Charity Law in General.

Supporting Organizations in General.

Type III Supporting Organizations.

General Supporting Organization Questions.

Donor–Advised Funds.

Chapter 5 Governance.

Chapter 6 Private Inurement, Private Benefit, and Excess Benefit Transactions.

Introduction.

Private Inurement.

Private Benefit.

Intermediate Sanctions.

Chapter 7 Executive Compensation.

Concept of the Executive.

Payment of Reasonable Compensation.

Executive Compensation and the Governing Board.

Chapter 8 Legislative Activities.

Expenditure Test.

Social Welfare Organizations.

Trade, Business, and Professional Associations.

Reporting Requirements.

Chapter 9 Political Campaign Activities.

Basic Federal Tax Law Rules.

IRS Enforcement Efforts.

Federal Election Laws.

Reporting Requirements.

Chapter 10 Endowment Funds.

Endowment Fund Basics.

Demographics.

Endowment Fund Management.

Endowment Fund Investments.

Endowment Fund Distributions.

Endowment Fund Criticisms.

Chapter 11 Scholarships, Fellowships, and Other Student Assistance.

Scholarship and Fellowship Law.

Other Student Assistance Programs.

Chapter 12 Charitable Giving Rules.

Charitable Giving Rules Basics.

Percentage Limitations.

Conditional, Unrestricted, and Restricted Gifts.

Unique Forms of Donors.

Special Gift Situations.

Charity Auctions.

Planned Giving.

Charitable Remainder Trusts.

Pooled Income Funds.

Charitable Gift Annuities.

Charitable Lead Trusts.

Other Gifts of Remainder Interests.

Chapter 13 Fundraising Regulation.

Federal Law Requirements.

State Law Requirements.

Chapter 14 Unrelated Business Activities in General.

General Unrelated Business Rules.

Basic Rules.

Debt–Financed Property Rules.

Other Unrelated Business Rules.

Chapter 15 Contemporary Application of the Unrelated Business Income Rules.

Chapter 16 Entity Planning.

Joint Venture Basics.

Partnerships and Limited Liability Companies.

Tax–Exempt Organizations and Joint Ventures.

Tax–Exempt Organizations, Partnerships and Limited Liability Companies.

Information Reporting.

Chapter 17 Annual Information and Other Returns.

General Requirements.

Return Contents.

Unrelated Business Income Tax Returns.

Accounting Methods and Financial Statements.

Changes in General Operations.

Public Inspection and Recordkeeping Requirements.

Sanctions.

Chapter 18 Disclosure and Distribution Rules.

Annual Information Returns.

Exemption Applications.

Disclosure and Distribution Sanctions.

Provision of Goods And Services.

Fundraising Disclosure.

Other Documents and Requirements.

Index.