The Law of Tax-Exempt Organizations, 2021 Cumulative Supplement. Bruce R. Hopkins. Читать онлайн. Newlib. NEWLIB.NET

Автор: Bruce R. Hopkins
Издательство: John Wiley & Sons Limited
Серия:
Жанр произведения: Личностный рост
Год издания: 0
isbn: 9781119757689
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Fifth Edition (2018): cited as Private Foundations

      10 Starting and Managing a Nonprofit Organization: A Legal Guide, Seventh Edition (2017): cited as Starting and Managing

      11 The Tax Law of Associations (2006): cited as Associations

      12 The Tax Law of Charitable Giving, Sixth Edition (2021): cited as Charitable Giving

      13 The Tax Law of Unrelated Business for Nonprofit Organizations (2005): cited as Unrelated Business

      14 Tax‐Exempt Organizations and Constitutional Law: Nonprofit Law as Shaped by the U.S. Supreme Court (2012): cited as Constitutional Law.

      The second, fourth, ninth, and twelfth of these books are annually supplemented.

      Updates on all of the foregoing subjects (plus The Law of Tax‐Exempt Organizations) are available in Bruce R. Hopkins' Nonprofit Counsel, the author's monthly newsletter, also published by John Wiley & Sons.

        § 1.1 Definition of Nonprofit Organization (a) Nonprofit Organization Defined

      (a) Nonprofit Organization Defined

       p. 5, note 7. Insert prior to existing text:

      This point is sometimes overstated, as illustrated by a state's supreme court's proclamation that “[n]on‐profit corporations do not have owners,” adding that “non‐profit corporations do not have shareholders or any other way for third parties (whether individuals or entities) to assert a similar ‘ownership’ role” (Farrow v. Saint Francis Medical Center, 407 S.W.3d 579, 593 (Sup. Ct. Mo. 2013)).

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      An individual, desiring to engage in certain activities appropriate for a nonprofit entity, formed, with advice of legal counsel, a nonprofit corporation. Matters did not go well with this entity, programmatically or financially. This individual, who was the corporation's incorporator and president, and a director, filed a retroactive election for S corporation status for the entity as of the date of incorporation. This was done in an effort to enable him to report passthrough operating losses on his personal income tax returns. To this end, he claimed that he held an ownership interest in the organization equivalent to that of a shareholder. The IRS disagreed, disallowing the passthrough losses. The U.S. Tax Court upheld the IRS's position, rejecting the argument that this individual held “exclusive beneficial ownership” of the corporation and writing that “there is no interest in a nonprofit corporation equivalent to that of a stockholder in a for‐profit corporation who stands to profit from the success of the enterprise” (Deckard v. Comm'r, 155 T.C. No. 8 (2020)).

       p. 5, note 8, second line. Insert following first comma:

      Charleston Area Medical Center, Inc., CAMC Health Education and Research Institute, Inc. v. United States, 940 F.3d 1362 (Fed. Cir. 2019); Wichita Center for Graduate Medical Education v. United States, 917 F.3d 1221 (10th Cir. 2019);

      p. 5, note 8, third line. Insert and following semi‐colon.

      p. 5, note 8, fourth line. Delete text following closing parenthesis and insert period.

        § 2.1 Profile of Nonprofit Sector

        § 2.2 Organization of IRS (a) IRS in General (b) Tax Exempt and Government Entities Division

       p. 23. Delete text, including footnotes, following first complete paragraph and insert:

      Other data from the IRS reveals that tax‐exempt organizations filed 1,118,006 annual information returns during that fiscal year. California was the jurisdiction for 113,916 of these filers, followed by Texas (77,149), New York (73,391), Florida (54,886), Pennsylvania (49,699), Ohio (46,819), and Illinois (43,816). The state with the fewest filers was Wyoming (3,637).

      Contributions to religious organizations in 2019 totaled $128.17 billion (29 percent of all giving that year). Gifts to educational organizations amounted to $64.11 billion (14 percent); to human service entities, $55.99 billion (12 percent); to foundations, $53.51 billion (12 percent); to health care institutions, $41.46 billion (9 percent); to public/society benefit organizations, $37.16 billion (8 percent); to international affairs entities, $28.99 billion (6 percent); to arts, culture, and humanities entities, $21.64 billion (5 percent); and to environment and animals groups, $14.16 billion (3 percent).