EO Radio Show

Welcome to EO Radio Show – Your Nonprofit Legal Resource. The IRS Form 990-PF is a complicated federal information return that the Internal Revenue Code requires every private foundation to file each year.

For this episode, I'm delighted to have as my guest Tracy Hom, a certified public accountant with the firm Realize CPA. Tracy will address some frequently asked questions from private foundation directors and officers when they review their foundation's first Form 990-PF. We'll provide a brief orientation to the form, and we'll cover some of these questions.

Resources:

Tracy Hom, Managing Partner, Realize CPA: https://realize.cpa/team/

Realize CPA Publications: https://realize.cpa/news/

IRS information page on Form 990-PF: https://www.irs.gov/forms-pubs/about-form-990-pf

Form 990-PF for 2022: https://www.irs.gov/pub/irs-pdf/f990pf.pdf

Instructions for Form 990-PF for 2022: https://www.irs.gov/pub/irs-pdf/i990pf.pdf

EO Radio Show private foundation episodes:

Nonprofit Basics: Election Year Issues for Private Foundations and Public Charities Part 1: Candidate Campaign Intervention

Nonprofit Basics: Election Year Issues for Private Foundations and Public Charities Part 3: Private Foundation Approaches to Policy Advocacy Allowed by the Internal Revenue Code

Charitable Contribution Substantiation Requirements and a Conversation About Art Appraisals With Sarah Vandeweerdt From Christie's

Nonprofit Basics: Operating Foundation Rules

Loot and Private Foundation Rules – Part 1

Loot and Private Foundation Rules - Part 2

Nonprofit Basics: What You Need To Know About Expenditure Responsibility

Nonprofit Basics: Private Foundation Minimum Distribution Requirements

Nonprofit Basics: Set-Asides As Qualifying Distributions

Nonprofit Basics: Insider Transactions and Nonprofits – What's the Big Deal?

Nonprofit Basics: Federal Tax Filing Deadlines and Penalties

EO Radio Show YouTube private foundation episode playlist

If you have suggestions for topics you would like us to discuss, please email us at [email protected].

Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.

Welcome to EO Radio Show – Your Nonprofit Legal Resource. I'm delighted to have as my guest Stephanie Hood, my colleague here at Farella Braun + Martel, and a member of our top-notch estate planning practice.

Our charity clients often come to us with a request to help a major donor think about a special gift to the charity, and sometimes we also get pulled in to help the charity when there are glitches in the trust or will after the donor has passed. And, of course, many of our philanthropic clients ask for help describing their charitable intent in their estate planning documents.

In this episode, Stephanie and I will talk about planned charitable giving, including some tips and common pitfalls to watch out for.

Resources:

Stephanie Hood Bio

EO Radio Show Ep #17: Charitable Contribution Substantiation Requirements and a Conversation About Art Appraisals With Sarah Vandeweerdt From Christie's

Charitable Remainder Trusts

Guidestar

IRS Tax Exempt Organization Search

IRS Self-Dealing Acts

Publication 561 - Determining the Value of Donated Property

If you have suggestions for topics you would like us to discuss, please email us at [email protected].

Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.

Welcome to EO Radio Show – Your Nonprofit Legal Resource. I'm Cynthia Rowland, and this is the third in a series of quick tip episodes focusing on the details of state registration of nonprofit corporations.

In episode 38, we talked about filing in California and Delaware, which are the most frequently used by our clients - most of whom have a connection with California. Episode 40 focused on the state filings in Arizona and Nevada.

Today with the help of Joe Hilliard again, we will talk about the basic state filing requirements for nonprofit corporations operating in Washington and Oregon. We'll work our way through the rest of the states in future episodes.

Resources:

For Washington:

Washington Secretary of State website for Corporations and Charities: https://www.sos.wa.gov/corporations-charities

Washington Secretary of State Nonprofits FAQ: https://www.sos.wa.gov/corporations-charities/nonprofits-charities/nonprofits

Washington Secretary of State Starting a Nonprofit Handbook: https://www.sos.wa.gov/sites/default/files/2022-09/starting-a-nonprofit-pdf.pdf?uid=64790db6abca1

Washington Nonprofit Handbook: https://www.sos.wa.gov/sites/default/files/2022-09/2022-Nonprofit-Handbook.pdf?uid=64790db6ad7d2

Washington's current entity database: https://ccfs.sos.wa.gov/#/

Washington Forms: https://www.sos.wa.gov/corporations-charities/business-entities/download-forms

Washington Fees, including expedited fees: https://www.sos.wa.gov/corporations-charities/frequently-asked-questions-faqs/fee-scheduleexpedited-service

Washington Charitable Registration Forms: https://www.sos.wa.gov/corporations-charities/nonprofits-charities/charities/all-forms

For Oregon:

Oregon Secretary of State website: https://sos.oregon.gov/business/Pages/default.aspx

Oregon Secretary of State Nonprofits FAQ: https://sos.oregon.gov/business/Pages/nonprofit.aspx

Oregon current entity database: https://sos.oregon.gov/business/Pages/find.aspx

Oregon Nonprofit Forms: https://sos.oregon.gov/business/Pages/domestic-nonprofit-corporation-forms.aspx

Oregon Fees: https://sos.oregon.gov/business/Documents/business-registry-forms/br-fee-schedule.pdf

Oregon processing time: https://sos.oregon.gov/business/Pages/corporation-division-help.aspx

Oregon Delivery/Filing options: https://sos.oregon.gov/business/Pages/delivery-options.aspx

Oregon Charitable Registration: https://www.doj.state.or.us/charitable-activities/

If you have suggestions for topics you would like us to discuss, please email us at [email protected].

Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.

Welcome to EO Radio Show – Your Nonprofit Legal Resource. This episode focuses on documenting decisions made at meetings of a nonprofit organization's board of directors or trustees. While everyone who attends a board meeting should keep their own notes—and those notes can follow any style and can focus on the recording person's understanding of what transpired—it is the meeting minutes as ultimately approved by the board that serve as the legal record of the decisions of the governing body.

Since the governing body members have fiduciary responsibility for the organization, the decisions described in the minutes should be carefully drafted. In this episode, I'll cover the basics for the person charged with drafting the minutes, touching on what should be included in the minutes and what can be left out.

Resources:

EO Radio Show EP #1: Nonprofit Basics: Overview of Nonprofit Charitable Organization Types: Corporation, LLC, Trust, Association and Fiscal Sponsorship

EO Radio Show EP #2: Nonprofit Basics: Designators, Members, Directors, Officers: The Who's Who of Nonprofit Governance

EO Radio Show EP #3: Nonprofit Basics: Director Duties and Best Practices for the Typical Nonprofit Public Benefit Corporation

EO Radio Show EP #11: Nonprofit Basics: Amending Nonprofit Corporation Bylaws

EO Radio Show EP #32: Nonprofit Basics: Insider Transactions and Nonprofits – What's the Big Deal?

EO Radio Show EP #33: Nonprofit Basics: Conflict of Interest Policies and Best Practices for Approving Insider Compensation

EO Radio Show EP #34: Nonprofit Basics: Best Practices for Approving Insider Compensation Decisions

If you have suggestions for topics you would like us to discuss, please email us at [email protected].

Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.

Welcome to EO Radio Show – Your Nonprofit Legal Resource. This episode focuses on the importance of meeting the federal tax filing deadlines that apply to charitable organizations.

Most charitable organizations that are exempt from income tax are required to file a federal return on the 15th day of the fifth month after the close of their fiscal year. So for nonprofits that use the calendar year for accounting purposes, that is May 15.

If you haven't filed yet, don't despair. Filing for an extension is fairly easy. I'll also touch on what penalties can apply if your organization fails to meet these filing requirements.

Resources:

Form 990, Return of Organization Exempt from Income Tax

Form 990-EZ, Short Form Return of Organization Exempt from Income Tax

See Filing Phase-In for more information about which return to file

Form 990-N (e-Postcard), Annual Electronic Filing Requirement for Small Exempt Organizations

Form 8868

Tax Relief in Disaster Situations

Disaster Assistance and Emergency Relief for Individuals and Businesses

Revenue Procedure 2014-11 - explains the four procedures an organization may use to apply for reinstatement

If you have suggestions for topics you would like us to discuss, please email us at [email protected].

Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.

Welcome to EO Radio Show – Your Nonprofit Legal Resource. This episode is the second in our series of quick tip episodes starting with the details of state registrations of nonprofit corporations. In episode 38, we talked about filing in Delaware and California, which are the most frequently used by our clients—most of whom have a connection with California. Many also carry out activities in Nevada and Arizona.

With the help of Joe Hilliard today, we'll talk about the basic filing requirements for nonprofit corporations in Nevada and Arizona. We'll work our way through other states in future episodes.

Resources:

For Nevada:

Nevada Secretary of State's website

Nevada's current entity database

Nevada business forms

Nevada fees, including expedited fees

Nevada Solicitation of Charitable Contributions

For Arizona:

Arizona Corporations Commission website

Arizona's current entity database

Arizona corporation forms

Arizona fees

Arizona processing time

Arizona expedite services

EO Radio Show EP #38: Nonprofit Quick Tips: Secretary of State Filings in California and Delaware

If you have suggestions for topics you would like us to discuss, please email us at [email protected].

Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.

Welcome to EO Radio Show – Your Nonprofit Legal Resource. In this episode, we cover important issues for nonprofits dealing with distressed businesses, such as their landlords or tenants, other kinds of contract counterparties, and, recently, banking institutions or financial institutions.

We'll talk a little about warning signs to watch for, some ideas for managing the situation when a party seems to be facing financial distress that affects their ability to perform, and when to call a lawyer for help.

For this specialized area, EO Radio Show host Cynthia Rowland is joined by Farella partner Gary Kaplan who brings deep experience with bankruptcy laws and creditors' rights to the discussion.

Resources:

Bio: Gary M. Kaplan, Partner, Farella Braun + Martel

Article: Protecting Suppliers and Customers of Insolvent or Bankrupt Companies

If you have suggestions for topics you would like us to discuss, please email us at [email protected].

Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.

Welcome to EO Radio Show – Your Nonprofit Legal Resource. This week, we launch a series of quick tip episodes, starting with the details of state registration of nonprofit corporations. With the help of our crackerjack paralegal, Joe Hilliard, we tackle the basic filing mechanics for nonprofit corporations starting with Delaware and California today. We will work our way through the other states in future episodes.

Resources:

For Delaware:

Delaware Secretary of State website

Delaware's current entity database

Delaware corporate forms

Delaware fees

Delaware expedite services

For California:

California Secretary of State website

California current entity database

California business forms and fees

California processing time

California expedite services

If you have suggestions for topics you would like us to discuss, please email us at [email protected].

Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.

Welcome to EO Radio Show – Your Nonprofit Legal Resource. This episode focuses on the key questions to ask when a founder has that fire in the belly and is ready to create a new charity as an independent charitable entity. I'll outline the key steps and the timeline for launching the charity as a nonprofit corporation. And I'll walk listeners through the initial decisions that should be made before setting the process in motion.

Resources:

EO Radio Show Episode 1: Nonprofit Basics: Overview of Nonprofit Charitable Organization Types: Corporation, LLC, Trust, Association, and Fiscal Sponsorship

EO Radio Show EP #2: Nonprofit Basics: Designators, Members, Directors, Officers: The Who's Who of Nonprofit Governance

EO Radio Show #3: Nonprofit Basics: Director Duties and Best Practices for the Typical Nonprofit Public Benefit Corporation

EO Radio Show EP #5: Nonprofit Basics: Navigating the Complex Rules That Describe A Public Charity

EO Radio Show EP #10: Nonprofit Basics: Setting up a New Charity for Disaster Relief

EO Radio Show EP #32: Nonprofit Basics: Insider Transactions and Nonprofits – What's the Big Deal?

EO Radio Show EP #33: Nonprofit Basics: Conflict of Interest Policies and Best Practices for Approving Insider Compensation

If you have suggestions for topics you would like us to discuss, please email us at [email protected].

Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.

Welcome to EO Radio Show – Your Nonprofit Legal Resource. This week, I am delighted to cover a niche topic and a special structure that allows certain nonprofits to have an outsize impact on improving their communities: New Markets Tax Credit deals. These deal structures take advantage of a special tax credit for US taxpayers that invest in the enterprise.

Here to talk us through the why, when, and how of using these tax credits is Farella partner Julie Treppa. Julie is particularly experienced in developing strategies to help investors, developers, businesses, and nonprofit organizations use tax incentives and tax credits to achieve financial goals while supporting social and other community-based priorities. Listen in.

Resources:

Julie Treppa Bio: www.fbm.com/julie-treppa

CDFI Fund's Searchable Award Database

CDFI Fund New Markets Tax Credit Program

Novogradac New Markets Tax Credit Resource Center

If you have suggestions for topics you would like us to discuss, please email us at [email protected].

Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.