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Not For Profit/Exempt Organizations Blog

Monthly Archives: March 2011

Attorney General Issues Guide on the New York Prudent Management of Institutional Funds Act

Posted in Endowments

           On March 17, 2011, the New York State Attorney General’s Charities Bureau published “A Practical Guide to the New York Prudent Management of Institutional Funds Act” (the “Guide”).  The Guide provides a summary of the New York Prudent Management of Institutional Funds Act (“NYPMIFA”) as well as practical guidance on its application. Although the Guide… Continue Reading

Proposed Regulations Expand IRS Authority to Disclose Charitable Organization Information to State Officials

Posted in IRS Filings

On March 15, 2011, the Treasury published proposed regulations providing guidance on the IRS’s expanded authority to disclose information to appropriate state officers (“ASOs”) under Section 6104(c) of the Code, as amended by the Pension Protection Act of 2006 (the “Act”) . Section 6104(c) of the Code governs when the IRS may disclose certain information to… Continue Reading