36 episodes
EO Radio Show Farella Braun + Martel LLP
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5.0 • 4 Ratings
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Welcome to EO Radio Show, Your Nonprofit Legal Resource, brought to you by the Exempt Organizations Group at Farella Braun + Martel.
My name is Cynthia Rowland. I’m a business and tax partner at Farella with more than 30 years of experience advising clients on non-profit and charity law. I help philanthropists, including private individuals as well as for-profit and nonprofit organizations, who wish to make the world a better place.
Through this podcast, our lawyers and guests will discuss a range of legal and business issues impacting the nonprofit world because we understand you work hard every day to make your community a better place to live and work.
We hope you will appreciate discussions of basic legal principles, as well as in-depth technical discussions of the legal and regulatory landscape.
Topical presentations and guests on EO Radio Show will focus on helping you reach a solid understanding of what it takes to organize, operate and lead an effective charitable organization that presents itself as a professional and trustworthy partner.
Starting with a key legal concept, each show will focus on an essential piece of the framework in which charities operate, and will explain how the right understanding leads to a well-functioning organization.
We will also help you understand the legal world in which charities operate and will provide detailed links and connections to additional resources on the topic of the day.
We want you to think of EO Radio Show as a modern-day audio treatise on charity legal issues and the practical application of legal principles of effective operation of a charity.
EO Radio Show is for all professionals, whether you are leading, funding, advising, or operating a public charity or private foundation that aspires to be a force for good in your space. You work hard every day to make your communities and the world a better place.
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Hot Topic: UPMIFA in the Context of Financial System Instability
Welcome to EO Radio Show – Your Nonprofit Legal Resource. A really hot topic this week is the duty of care for directors and trustees of charities in a time of volatility in the investment markets in general, and turmoil, or even fear of turmoil in their banking institutions. I’m not an investment advisor, and I can’t and don’t tell my clients where they should bank or what they should invest in. I can tell them the standard of care that they are held to in their roles as directors or trustees of a charity.
In this episode, I’ll talk about the standard of care for investment decisions and some practical things that charity fiduciaries can do to take good care of the charitable funds entrusted to them.
Resources:
Uniform Prudent Management of Institutional Funds Act (UPMIFA)
“UPMIFA, Three Years Later: What’s a Prudent Director To Do?” ABA Business Law Today, Volume 18 No. 6 (July/August 2009), Cynthia R. Rowland
EO Radio Show EP #16: Basics of Impact Investing: A Conversation About Investment Policies and Evaluation Metrics For ESG Investors
If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com.
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. -
Nonprofit Basics: Best Practices for Approving Insider Compensation Decisions
Welcome to EO Radio Show – Your Nonprofit Legal Resource. This episode is the third in a series discussing insider transactions by exempt organizations. In this episode, we'll look closely at best practices for approving insider compensation decisions made by public charities and private foundations.
In episode 32, I gave a general overview of the federal laws regulating the transaction of business between a tax-exempt organization and its insiders. Insiders include directors, trustees, certain executives, substantial contributors, entities controlled by directors or substantial contributors, and their family members.
In episode 33, we took a deeper dive into conflict of interest policies and considerations in deciding which insiders need to comply with the organization's annual conflict of interest disclosure procedures.
Resources:
IRS Resources on Rebuttable Presumption for Compensation
IRS form 4720 and Instructions
IRS Schedule J, Compensation Information (Form 990)
EO Radio Show EP #2: Nonprofit Basics: Designators, Members, Directors, Officers: The Who’s Who of Nonprofit Governance
EO Radio Show EP #5:Nonprofit Basics: Navigating the Complex Rules That Describe A Public Charity
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 eoradioshow@fbm.com.
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. -
Nonprofit Basics: Conflict of Interest Policies and Best Practices for Approving Insider Compensation
Welcome to EO Radio Show – Your Nonprofit Legal Resource. This episode is the second in a series discussing insider transactions. In episode 32, I gave a general overview of the federal laws regulating the transaction of business between a nonprofit and its insiders, which includes directors, trustees, certain executives, substantial contributors, and entities controlled by directors or substantial contributors and their family members.
Today, I take a deeper dive into conflict of interest policies and considerations relevant to deciding which insiders need to respond to the organization's annual conflict of interest diligence procedures. In a later episode, we'll look closely at compensation decisions in particular.
Resources:
IRS Resources on Rebuttable Presumption for Compensation
IRS Form 4720 and Instructions
IRS Sample COI Policy
IRS Instructions for Form 1023 Exemption Application
EO Radio Show EP. 5: Nonprofit Basics: Navigating the Complex Rules That Describe A Public Charity
EO Radio Show EP. 21: Loot and Private Foundation Rules – Part 1
EO Radio Show EP. 22: Loot and Private Foundation Rules - Part 2
EO Radio Show EP #32: Nonprofit Basics: Insider Transactions and Nonprofits – What’s the Big Deal?
If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com.
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 -
Nonprofit Basics: Insider Transactions and Nonprofits - What's the Big Deal?
Welcome to EO Radio Show – Your Nonprofit Legal Resource. This is the first in a series of episodes covering the federal and state laws that apply to business transactions between a nonprofit and its insiders such as directors, executives, substantial contributors, and entities controlled by them.
In this episode, I provide a general overview of the federal laws. I talk about the rules that cover financial transactions that nonprofit directors, trustees, and executives should address carefully before they occur, and the penalties and other adverse consequences to an organization and its managers and insiders who violate these laws.
In the next few episodes, I'll cover the related topics of conflict of interest policies and best practices for approving insider compensation.
Resources:
IRS Resources on Rebuttable Presumption for Compensation
IRS Form 4720 and Instructions
California Form RRF-1 and Instructions
EO Radio Show EP. 5: Nonprofit Basics: Navigating the Complex Rules That Describe A Public Charity
EO Radio Show EP. 21: Loot and Private Foundation Rules – Part 1
EO Radio Show EP. 22: Loot and Private Foundation Rules - Part 2
If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com
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. -
Nonprofit Basics: Set-Asides As Qualifying Distributions
Welcome to EO Radio Show – Your Nonprofit Legal Resource. In this episode, I expand on an important concept that often comes up for private foundations when addressing the rules that require use of a minimum amount each year for charitable purposes. This is known in the industry as the minimum distribution requirement.
In the last episode, I talked about the general rules for computing a foundation’s distributable amount for the year, which is equal to the foundation’s minimum investment return with a number of adjustments. Today, we take a closer look at how to satisfy the minimum distribution rules by setting aside funds for a future purpose, and I’ll tell you a true story of a private foundation’s amazing resilience in using the set-aside rules in the face of regulatory roadblocks.
Resources:
IRS Form 8940 and Instructions (for requesting a set-aside ruling)
Compliance Guide for 501(c)(3) Private Foundations
IRS Summary of Minimum Distribution Rules
EO Radio Show #30: Nonprofit Basics: Private Foundation Minimum Distribution Requirements
EO Radio Show EP #18: Nonprofit Basics: Operating Foundation Rules
Private Letter Ruling 202302014
Taxes on Failure to Distribute Income - Private Foundations
If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com.
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. -
Nonprofit Basics: Private Foundation Minimum Distribution Requirements
Welcome to EO Radio Show – Your Nonprofit Legal Resource. Private foundations are required to spend a minimum amount each year for charitable purposes, which is known in the industry as the minimum distribution requirement. Like all other private foundation rules, there are a lot of exceptions and special rules. I’m not going to cover all the rules exhaustively in this episode, but listen in for an overview of the rules and resources for learning more about the topic.
Resources:
Compliance Guide for 501(c)(3) Private Foundations
IRS website summary of minimum distribution rules
EO Radio Show EP 18: Nonprofit Basics: Operating Foundation Rules
EO Radio Show EP 23: Nonprofit Basics: Supporting Organizations - Part 1
EO Radio Show EP 24: Nonprofit Basics: Supporting Organizations Part 2 - Orientation for Understanding Type III Supporting Organizations
Notice 2006-109
IRS 2022-2023 Priority Guidance Plan
If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com.
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.
Customer Reviews
Extremely helpful
Excellent podcast for understanding nonprofit rules and issues. More please!
Great Information
This is a great source of information for the community.