Managing The Tax Status Of Not-For-Profit & Tax-Exempt Organizations
At the core of every nonprofit organization is its adherence to the tax code. At the core of Goldburd McCone LLP is an understanding of that code.
Our tax and corporate law attorneys advise nonprofits in New York City, Long Island, New Jersey, Florida, California and throughout the United States, on compliance and management to maintain the all-important tax-exempt status. We assist executives and governing boards of 501(c)(3) and other not-for-profits in start-up and all facets of building an organization.
Ensure Your Organization Adheres To The Code
The Internal Revenue Code controls every not-for-profit: how they operate, how services may be delivered, the reach of the social benefits it can create and the community good it can achieve. Adherence to the code is crucial to an organization’s success and to its overall mission. The complexities involved require effective and tax-intelligent management and not just an understanding of the compliance issues applicable to tax-exempt nonprofits, but a mastery of them.
Our goal is to empower nonprofit organizations with tax knowledge from formation through growth, expansion and beyond. While reverence to compliance with federal, state and local laws and regulations is paramount, we also counsel on best practices in governance and strategies for engaging in activities that generate revenue. We work hand in hand with board membership to cement their fiduciary duties so they can steer the course of their organizations.
Full Service Legal Support For Nonprofits
Our services to tax-exempt organizations covers the spectrum:
- Formation and obtaining government clearance for tax exemption
- Bylaws and governance
- Compliance program creation
- Executive compensation
- Fiduciary training
- For-profit subsidiaries/affiliations
- Dissolutions
- Unrelated business income tax
- Private inurement, excess benefit transactions and private benefit compliance
- Business operations, such as the negotiation and drafting of contracts
- Exemption from state and local income tax, real property tax and sales and use tax
- Review of annual filings, such as IRS Forms 990 and 990-PF
- Audits, investigations and proceedings by government bodies like the IRS and state attorneys general
- Conversions to taxable and tax-exempt status
Schedule A Consultation With Savvy Attorneys
For assistance managing the tax implications of your not-for-profit or tax-exempt organization, contact Goldburd McCone LLP today at our office in Manhattan to schedule your case evaluation. Call 212-302-9400, toll-free at 844-653-2873, or send us an email.