A New York Not-for-Profit Corporations: A Primer on Formation and Governance

Navigating the federal and state landscapes regulating and restricting charitable entities is a complex endeavor. This program focuses on federal and state regulations pertaining to not-for-profit corporations and governance issues relating to those entities. 

The following topics will be covered:

I. FORMATION

A. Selecting the Type of Charitable Organization:  

• Private Foundations (Non-Operating), Private Operating Foundations and Public Charities

• Comparison of 501(c)(4) and 501(c)(6) organizations 

• When is a 501(c)(4) preferable

• Other tax exemption applications you may need to make (property tax exemptions and PILOTS)

• Revocation of tax-exempt status: how is it triggered and how can it be fixed

B. Achieving and Maintaining Federal Tax Exempt Status: Applying for Federal Tax Exemption – the Form 1023; federal reporting requirements – the Form 990

C. New York Registration and Reporting Requirements. Form CHAR410, Form CHAR410-A, Form CHAR410-R

II. GOVERNANCE

A. Use of Endowment Funds

B. Selection of Auditors

C. Investment Policies

D. Whistleblower Provisions

E. Compensation of Officers

F. Excess Benefit Transactions

Speakers

Yolanda Y. Kanes, Partner and Chair of Trusts and Estates, Tannenbaum, Helpern Syracuse & Hirschtritt LLP

Ralph A. Siciliano, Partner and Head of Governmental and Regulatory Investigations, Tannenbaum, Helpern Syracuse & Hirschtritt LLP