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Nonprofit Joint Ventures - Partnering with For-Profit Organizations

Webinar: ID# 1012927
Recorded CD
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About This Course:
In a time of economic upheaval, nonprofits everywhere are struggling for new sources of funding and expense sharing. Simultaneously, the nonprofit sector has seen a growth in social enterprises - businesses designed not just to make a profit, but to further social goals. Given these two trends, more and more nonprofits find themselves considering for-profit activities such as joint ventures.

This live webinar will cover the basic tax issues of for-profit/nonprofit joint ventures, IRS pronouncements and court cases to date, and some drafting tips and practical issues that may arise in forming a joint venture.

Learning Objectives:

  • You will be able to review exemption issues.
  • You will be able to identify UBTI issues.
  • You will be able to discuss Revenue Ruling 98-15.
  • You will be able to explain debt structures and liabilities.

Agenda:

I. Exemption Issues

  • Organizational and Operational Tests
  • Private Inurement and Private Benefit
  • Plumstead Theater and For-Profit Activities

II. UBTI Issues

  • General Background
  • UBTI Taxation of Partnerships, S. Corp. and Dividends

III. Revenue Ruling 98-15: The Good, the Bad and the Ugly

  • Background: Whole Hospital Joint Ventures vs. Ancillary Joint Ventures
  • The Good Example
  • The Bad Example

IV. St. David's, Redlands and Other Guidelines

  • Redlands
  • St. David's
  • Educational Rulings and Ancillary Joint Ventures

V. Practical Issues and Drafting

  • Purpose Statement in the Joint Venture
  • Board Control
  • Management Agreements
  • Debt Structures and Liabilities
  • Other Traps

The Presenters:

Elaine Waterhouse Wilson, West Virginia University College of Law

  • Associate professor, West Virginia University College of Law, teaching federal income taxation, taxation of business entities, estate and gift taxation, and nonprofit organizations
  • Previously a partner in private practice in the Tax-Exempt Organizations Group of the Chicago office of Quarles &Brady LLP (2007 to 2011); an associate and then partner in the Estate Planning Group of the Indianapolis office of Barnes &Thornburg LLP (1996 to 2007); and an associate in the Individual Client Practice of Sullivan &Cromwell in New York City (1993 to 1996)
  • Named Nonprofit Lawyer of the Year for Chicago for 2012 by the Leading Lawyers Network
  • Vice chair, Charitable Group of the American Bar Association's Section on Real Property, Trusts and Estates
  • Listed in The Best Lawyers in America, 2007 to present, nonprofit/charities law
  • Named to 40 Illinois Attorneys Under 40 To Watch, Law Bulletin Publishing Company, Chicago Lawyer magazine and The Chicago Daily Law Bulletin, 2009
  • Received the 2006 Pro Bono Publico Award, Indiana Bar Foundation
  • J.D. degree, magna cum laude, Boston University School of Law; B.A. degree, magna cum laude, Boston University College of Liberal Arts

Continuing Education Credits

Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit. Only registered and paid attendees will receive continuing education credit. Certificates of Completion are provided to each registered attendee. Your certificate will be emailed to you within two weeks following completion of the program.

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Nonprofit Joint Ventures - Partnering with For-Profit Organizations
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