Not For Profit/Exempt Organizations Blog

Monthly Archives: November 2009

NonProfits Must Comply With the New Massachusetts Data Security Breach Law

The Massachusetts data security breach law and proposed regulations have triggered extensive discussions and debate over the past year.  The issues and concerns raised resulted in extension of the compliance dates for the law.  However, although significant modifications have recently been made under the leadership of the new Undersecretary for Consumer Affairs, Barbara Anthony, substantial compliance … Continue Reading

User Fee Increase for Exemption Applications

The IRS has reported that user fees will increase for all applications for exemption (Forms 1023, 1024, and 1028) postmarked after January 3, 2010: $400 for organizations whose gross receipts are $10,000 or less annually over a 4-year period (Currently $300) $850 for organizations whose gross receipts exceed $10,000 annually over a 4-year period (Currently $750) $3,000 … Continue Reading

The Possibilities of the L3C

People have been whispering among themselves about the L3C, an emerging low-profit limited liability company structure that aspires to link business methods with charitable purposes and give socially oriented businesses greater access to investor capital.  The structure was created by Robert M. Lang, Jr., CEO of the Mary Elizabeth & Gordon B. Mannweiler Foundation.  Conceptually, the L3C is a hybrid not-for-profit/for-profit entity: like a … Continue Reading
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