Nonprofit Institutions

Wyatt, Tarrant & Combs, LLP has a longstanding tradition of representing nonprofit institutions and of advising others with regard to transactions and relationships with nonprofit institutions.  Our services range from organizing new nonprofit corporations, assisting with the initial governance structure, and applying for tax-exempt status with the Internal Revenue Service, to advising with respect to good governance and other governance-related issues, to addressing private inurement, private benefit, intermediate sanctions and other Section 501(c)(3) issues, to assisting charitable donors (and charities) with planned giving and other gift-giving matters and techniques.

Wyatt has a strong team of corporate, tax, trust and estate, and ERISA attorneys who have worked with nonprofit institutions for years, representing not just Section 501(c)(3) charitable corporations, but also charitable trusts and other entities (including LLC’s and partnerships) that are affiliated with nonprofit corporations.

Wyatt’s experience with nonprofit organizations extends to organizations formed under Section 501(c)(6) of the Internal Revenue Code (business associations), Section 501(c)(4) of the Code (social welfare organizations and neighborhood associations) and a variety of other nonprofits.

Wyatt attorneys assist clients with the following:

  • Formation of new charitable corporations (including incorporation, application for exempt status, assistance with initial governance structure and other formation matters).
  • Tax planning, including review of best practices, advice regarding executive compensation procedures, and review of information return reporting (Form 990).
  • Representation of private foundations and private operating foundations, including planning for avoiding private foundation excise taxes.
  • Gift-giving, planned giving, restricted gifts, donor-advised funds, grant agreements and charitable deduction issues.
  • State law charitable trust matters, including endowment planning and analysis, reformation of trusts and similar matters.
  • Transactions involving tax-exempt organizations, including mergers and acquisitions, joint ventures, affiliated systems, affiliations and wholly-owned limited liability companies.
  • Nonprofit governance, including advice concerning conflicts of interest, board of director oversight, board structure, bylaws drafting, fiduciary duty and voting issues.
  • Tax audits by federal and state government, tax filings, and tax ruling requests with federal, state and local government.
  • Advice regarding matters that raise intermediate sanctions issues, planning to obtain the rebuttable presumption of reasonableness and avoidance of organizational manager liability.
  • State and local tax exemptions, including filing for property tax exemptions and qualification for sales and use tax exemption.
  • Unique legal issues in the employment and employee benefit realm arising with respect to nonprofit institutions.