Not For Profit/Exempt Organizations Blog

Monthly Archives: May 2012

House Ways and Means Oversight Subcommittee Holds Hearing to Review Compliance and Reporting Issues of Tax-Exempt Organizations

On May 16, 2012, the Oversight Subcommittee of the House of Representatives Committee on Ways and Means, led by Congressman Charles W. Boustany Jr., MD (R-LA), heard testimony  from representatives of tax-exempt hospitals, universities and charitable institutions on the current state of compliance and reporting requirements for tax-exempt organizations.  The hearing was the first in … Continue Reading

New York Legislature Rejects Proposal to Grant Health Commissioner Authority to Appoint Board Members and Operators of Not-for-Profit Health Care Facilities

Earlier this year, Governor Andrew Cuomo proposed changes to the New York Public Health Law which would have given the Commissioner of the Department of Health the power to remove managers of hospitals, diagnostic and treatment centers, and adult care facilities.  The Commissioner would have also had the authority to appoint temporary members of the … Continue Reading

Proposed Regulations provide helpful new examples of “program-related investments”

As repeatedly promised in its work plan, the IRS recently issued Proposed Regulations containing several new examples of investments that qualify as a “program-related investment” (a “PRI”) for purposes of avoiding potential characterization as a “jeopardizing investment,” which could result in the imposition of excise taxes on a private foundation and its managers under Section … Continue Reading