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Non-profit Joint Ventures – Partnering with For-Profit Organizations

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer

Published: December, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Overview

  • What is fiduciary duties
    2 mins
  • Directors responsibilities
    20 mins
  • Challenges: Compensation and self-dealing
    33 mins
  • Private foundation self-dealing excise tax
    47 mins
  • Governance: Tax compliance principles
    68 mins
  • Whistleblower policy
    88 mins

Course Description

For decades, non-profit organizations have been looking for ways to increase revenue in order to better achieve their charitable (or exempt) purpose. One way they have found to do this is by entering into a joint venture arrangement with a for-profit entity.

This CPE webinar explains critical issues for non-profit joint ventures. One primary area that non-profit organizations should consider before entering into a joint venture are income tax issues. Preliminarily, one needs to understand what the IRS considers to be a joint-venture. 

This CE webinar discusses the tax risks associated with a non-profit’s participation in joint ventures, including possible loss of tax exemption. It also explains whether activities will trigger unrelated business income tax. It includes partnership tax reporting and other tax reporting, for-profit subsidiaries and planning for maintaining separate corporate identity. Finally, this CPE/CE webinar addresses the tax principles involved with joint ventures and for-profit subsidiaries and joint venture policies.

This Online CE/CPE course will discuss how to form, and obtain exemption for a non-profit entity including:

  • 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 versus 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

Learning Objectives

  • To identify what constitutes a joint-venture
  • To recognize the risks of loss of exemption and the triggering events
  • To identify the criteria for unrelated business taxable income
  • To recognize the difference between advertising and qualified sponsorship payments
  • To identify the partnership taxation principle for joint ventures
  • To recognize prohibited private inurement and private benefit
  • To identify the relevance of judicial precedent and IRS guidance on joint ventures
  • To recognize the use of for-profit subsidiaries and controlled corporations
  • To identify tax reporting and planning for joint ventures

Recommended For

  • The IRS approved CE course is recommended for CPAs, EAs, CTECs, Tax Practitioners, Tax Professionals, Non-Profit Professionals advising non-profit organizations over tax planning matters

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CE Credit of Taxes for Tax Professionals (Approval No. GEHNZ-T-00790-21-)
  • 2 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00790-21-S)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0733)
  • 2 CE Credit of Taxes for Annual Filing Season Program (AFSP)

Presenter

About Presenter

Louis Michelson

President Louis E Michelson, A Professional Corporation

Mr. Michelson received his B.A. Degree, with general honors from the University of Chicago, his M.S. in Accountancy from DePaul University and his J.D. degree from UCLA School of Law. He has been admitted to practice with the U.S. Tax Court and the United States District Court, Central District of California.

Mr. Michelson is Past Chair of the Nonprofit Organizations Committee of the Business Law Section of the California Lawyers Association. He has served as Chair of the Tax-Exempt Organizations Committee of the Taxation Section of the State Bar of California, as Co-Chair of the Nonprofit Organizations Committee of the Business Law Section of the State Bar of California and as Chair of the Taxation Section of the Los Angeles County Bar Association. In May 2001 he participated in the Los Angeles County/California State Bar delegation to the Internal Revenue Service, Treasury and staff of the Congressional tax committees in Washington D.C. to discuss proposed guidance, as set forth in a co-authored paper, “Getting Connected: Business and Politics of Charities on the Internet.”  Together with other attorneys, he assisted in reviewing and suggesting revisions to portions of the California Attorney General’s Guide to Charities. Mr. Michelson is a lecturer at UCLA Extension on tax issues for nonprofit organizations. He is also Adjunct Professor at David Nazarian College of Business and Economics California State University Northridge for a class on income taxation of trusts and estates. He has lectured for business and professional organizations and written articles on various federal and California tax topics. He is a member of the American, California, and Los Angeles County Bar Associations.

About Company

Louis E Michelson, A Professional Corporation

lemtax.com/

Louis E. Michelson focuses his practice on income tax planning, charitable giving and other federal, state and local taxation issues for individuals, corporations and tax-exempt organizations.

Mr. Michelson 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. He also has extensive experience with income tax planning for business transactions and estate planning.


Faq

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