Tax-Exempt Organizations

Tax  Exempt Organizations

Our firm has a substantial practice advising tax-exempt organizations, ranging from a local soup kitchen to academic teaching hospitals to an international animal welfare organization, on general corporate and regulatory issues.  We help tax-exempt maintain their tax status by ensuring compliance with statutory and regulatory restrictions on lobbying, private inurement/benefit, unrelated business taxable income and fundraising.  Our advice also includes assistance with forming joint ventures with taxable and tax exempt entities and structuring off-balance sheet financing arrangements.  Two areas of particular focus shape our work in this area:

• Philanthropy Support.  Our lawyers help non-profit organizations carry out their charitable missions by attracting and managing charitable contributions and effectively investing and distributing charitable funds.  We also ensure that our clients fulfill their annual federal and state filing requirements.  For donors to these organizations, our lawyers advise on the best legal structures for charitable donations, such as donor-advised funds, charitable remainder trusts and lead trusts, pooled income funds, gift annuities, remainder interests and supporting organizations. We are experienced in techniques such as bargain sales and conservation restrictions and regularly structure special asset donations restricted stock, closely-held businesses, intellectual property and technology.
• Foundation Management.  Rackemann offers in-house administrative support for private foundation grantmaking.  With direction from the donor, we can produce a “Mission Statement” for the new foundation, a “Statement of Legacy” and formal Grant Guidelines. Our lawyers are experienced in managing all aspects of the grantmaking process as well as maintaining fiscal records and preparing tax returns.