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Not For Profit/Exempt Organizations Blog

Tag Archives: joint venture

New Flexibility for Joint Ventures Using Tax-Exempt Bond-Financed Property

Posted in Uncategorized

On October 26, 2015, the IRS released final regulations under Sections 141 and 145 of the Internal Revenue Code concerning the use of property financed with tax-exempt bond proceeds.  The bulk of the new regulations fill a long-reserved spot in Treasury Regulation Section 1.141-6 concerning allocation of bond proceeds to financed property.  In addition, in… Continue Reading

NJ Not-for-Profit Organization Loses Its Property Tax Exemption Because of For Profit Activities

Posted in Formation

In an interesting recent decision, International Schools Services Inc. v. West Windsor Township, N.J., the New Jersey Superior Court Appellate Division ruled that a not-for-profit organization whose purposes were to aid, promote and encourage educational organizations should lose its property tax exemption because its operation and use of the property was conducted for profit. This decision should make not-for-profits with affiliated for-profits or an ongoing working relationship with for-profits carefully scrutinize their activities with these for-profit entities.