LEGAL SERVICES NONPROFIT
NONPROFIT LEGAL SERVICES
Nonprofit corporations face virtually all of the challenges affecting for-profit businesses, and then some. Like a business, a nonprofit that does not earn enough to cover its expenses cannot continue operating. Unlike a business, a nonprofit must not stray from its formal corporate purposes or it risks losing its tax-exempt status. It must use its assets only for those purposes. It may not take the same financial risks that a business can Its tax returns are readily available public documents The officers and directors have fiduciary duties, not to shareholders, but to donors and to the public, represented by the State's Attorney General The decision-making process is different because nonprofits are run by a Board of Directors and other committees, rather than an owner
At J&G, we represent numerous and a wide variety of nonprofit clients However, our commitment does not stop with individual clients, but extends to the community in which we all live Our attorneys and staff commit their energies, talents and personal time to local charitable causes by serving on the boards and and committees of nonprofit organizations These organizations cover a wide range of interests including health care, protection of children and the elderly, economic and community development, environmentalism and the arts J&G has lengthy experience working for and with nonprofit organizations
At all stages of the life of a nonprofit, J&G has helped in planning, identifying and resolving issues,
managing risk, assisting with compliance and governance, exploring opportunities, and closing transactions.
Entity Formation:
Analysis to determine eligibility for and desirability of nonprofit mode of operation
Formation of nonprofit corporation, including obtaining consents from government agencies
Drafting of Articles of Incorporation, including vital corporate purposes provisions
Drafting of bylaws and committee charters
Preparation of IRS Form 1023 Application for Recognition of Exemption
Preparation of applications for real property tax exemption
Assistance in completing IRS Form 990 tax returns
Ongoing Governance:
Purchases and leases of real property and business equipment
Governance and best practices
Financial reporting and controls
Officer and director duties and liability
Taxation and unrelated income
Employment and labor
Strategic alliances and affiliations
Fundraising
Conflicts of interest
Lobbying
Review and revision of committee structure and charters
This is not intended to be legal advice. You should contact an attorney to discuss your specific situation.
LEGAL SERVICES NONPROFIT
Reorganization And Dissolution:
Structuring and implementation of mergers
Formation of nonprofit or for-profit subsidiaries or affiliates
Petitions for Judicial or Non-Judicial Dissolution
New Laws In New York:
The Nonprofit Revitalization Act of 2014 made significant amendments to the New York Not-ForProfit Corporation Law The revisions were intended to simplify forming, managing, and even dissolving nonprofits At the same time, there are greater demands for transparency and accountability J&G can help nonprofit directors and employees make sure they know and comply with the many new rules and requirements
Fiscal Sponsorship:
Some charitable groups are reluctant to form a nonprofit corporation because of the need for a Board of Directors, committees, meetings, minutes, fundraising, audits, tax returns, and other organizational and compliance requirements A contractual arrangement called fiscal sponsorship might be right for such groups In this arrangement, a pre-existing tax-exempt entity accepts donations for the group and spends the funds on the group's project A fund at a community foundation is one such vehicle At J&G, we have helped many groups negotiate and enter into successful fiscal sponsorship arrangements
Benefit Corporations:
Another alternative to forming a nonprofit corporation is the Benefit Corporation. In 2012, New York became the 6th state in the nation to authorize
Benefit Corporations. A "B Corp" must devote a portion of its assets to creating "public benefit." In some ways a B Corp is a hybrid of for-profit and nonprofit that may be just right for some clients. J&G worked to enact the B Corp legislation and has been a leader in promoting them.
Selecting A Legal Advisor:
As you can see, nonprofit corporations need legal counsel in many areas of law. As attorneys with experience in nonprofit organizations, business formation, commercial transactions, employment, debtor-creditor issues, intellectual property, commercial litigation, tax law and estate planning, we can meet all your needs Even if you have already embarked upon your nonprofit adventure it is worthwhile to have a legal audit and obtain recommendations for best practices on a range of legal issues
What Are The Fees For Legal Services:
We provide a consultation of unlimited time for nonprofit clients at a discounted and fixed fee For this consultation we will garner all the information concerning your proposed or existing nonprofit, analyze and evaluate your current condition, recommend alternatives to accomplish your goals, and outline the procedures to be followed to reach those goals We will then provide specific fees for any additional legal services you wish to have undertaken Do not ignore important legal issues that will be the basis for your protecting your success and insulating you against the risk of failure