flowers in hand

First Day of the Season: Spring Ahead with Nonprofit Success

My first attempt at a post to celebrate the spring equinox was a bad pun off of "springing power of attorney" (get it?!) that just didn't work. Instead, I got to thinking about how all the great things about spring from green trees and baby…
four leaf clover

Case Study for St. Patrick's Day: Save Some Green on Gifts of Long-Term Capital Assets

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In the spirit of St. Patrick's Day, pour yourself a pint and read up on some simple, yet smart, charitable giving strategies. Whether you want to support the great work of an Oscar Wilde literary foundation or an Irish heritage association,…
stop sign

Private Foundations: Prohibited Grants

Awarding grants is a primary way for private foundations to accomplish their charitable goals. It's also an oft-used way to meet annual distribution requirements to avoid an IRS-imposed penalty of an excise tax. However, this area of nonprofit…
cutting into a pie

Happy Pi Day: The One Constant in Estate Planning is Change

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Pi (π) is the ratio of a circle’s circumference to its diameter. Pi is a constant number, meaning that for all circles of any size, Pi will be the same. (It's also a great day to deliver pie to Gordon Fischer Law Firm...any kind will do!) Like…
Two woman at board meeting table

Payout Requirements for Private Foundations

When forming a nonprofit organization, at some point founder have to weigh the merits of the public charity versus the private foundation. Both are classified by the IRS as 501(c)(3)s. There are indeed benefits and challenges to the structure…
two women talking about forming a nonprofit

Nonprofit Formation: Responsibilities to Consider

Any good attorney worth their weight will advise you on multiple aspects of any given important action or decision. Let's say you're considering forming a new 501(c)(3). You may have thoroughly considered all the prospective benefits of a tax-exempt…