LAW 7411 - Nonprofit Organizations

3 Credit Hours

Prerequisites: LAW 7095 (may be taken concurrently).
Description
This is an elective course. This course covers the major legal and tax issues affecting nonprofit organizations, especially IRC § 501(c)(3) exempt organizations. Topics to be discussed include permitted purposes, formation, operation, organization, governance, state regulation, tax exemption, and restrictions on lobbying and political activity. In addition, the course will examine special rules concerning churches, private foundations, unrelated business income taxation, charitable fundraising, and charitable contributions. Approximately one-third to one-half of the course will focus upon state-law issues (using the Georgia Nonprofit Corporation Code as a statutory model), while the remaining portion of the course will focus upon the unique rules relating to the federal income taxation of nonprofits.