Advising International Charitable Organizations with U.S. Donors and U.S. Investments
In our global society, frequently U.S. donors desire to make charitable donations to international charitable causes. But, under the Code, a U.S. income tax deduction is unavailable to U.S. individuals who donate to international charities. Foreign charities wishing to entice U.S. donors may recommend alternative options, such as giving to donor advised funds and “friends of” organizations. The U.S.-Canada Income Tax Treaty creates separate rules for Canadian charities, allowing a limited deduction in certain circumstances. International charities are also investing in the U.S. and often do not realize the U.S. compliance required with respect to such investment. This CLE will discuss the various options for international charitable giving, and the resulting compliance implications for foreign charities that receive donations from the U.S. and that have investments in the U.S.
- August 8, 2022
- 1:00 PM
- 2:00 PM
- 1.0
- 1.0
- Virtual Participation
1:00 p.m. – 1.05 p.m.
Welcome and Introduction
1:05 p.m. – 1:30 p.m.
Appealing to U.S. Donors
a. General rule on deductibility of gifts to foreign charitable organizations
b. U.S.-Canadian Treaty rules on deductibility of gifts to Canadian charitable organizations
c. Alternative options: “Friends of” organizations, donor advised funds, and private foundations
0.5 credit in Areas of Professional Practice
Speakers:
Catherine B. Eberl, Partner
Hodgson Russ LLP
Buffalo, NY
Patricia C. Sandison, Partner
Hodgson Russ LLP
Albany, NY
Marla Waiss, Partner
Hodgson Russ LLP
Buffalo, NY
1:30 p.m. – 1.55 p.m.
U.S. Compliance for Foreign Charities
a. Pros and cons of applying for 501©(3) status
b. Form 990 and 990-PF filing requirements for foreign charitable organizations
c. W-8 Forms for Investing in the U.S.
0.5 credit in Areas of Professional Practice
Speakers:
Catherine B. Eberl, Partner
Hodgson Russ LLP
Buffalo, NY
Patricia C. Sandison, Partner
Hodgson Russ LLP
Albany, NY
Marla Waiss, Partner
Hodgson Russ LLP
Buffalo, NY
1:55 p.m. – 2:00 p.m.
Q&A
- Catherine B. Eberl, Speaker, Hodgson Russ LLP
- Patricia C. Sandison, Speaker, Hodgson Russ LLP
- Marla Waiss, Speaker, Hodgson Russ LLP
- Webinar
- 0ME81
- Trusts & Estates Law Section
- International Section
- Committee on Continuing Legal Education