Powell Goldstein provides non-profit corporations and associations, charitable trusts, private foundations and similar organizations with counsel and advice on fiduciary duties, tax, trusts, corporate law, litigation and other issues.
We have also helped our clients with non-profit insurance, indemnification, investigations and corporate governance matters both nationally and in Georgia.
Our Tax Exempt Organizations team is comprised of attorneys who have a broad understanding of the current business and legal complexities with which tax-exempt organizations must contend. The attorneys in the group counsel individuals, public charities, private foundations and other tax-exempt organizations on a variety of issues, including charitable giving, investments in joint ventures (with non-profits and/or for-profits), tax controversies, subsidiary organizations, unrelated business income tax, corporate sponsorship and intermediate sanctions and other excise taxes under Chapter 42 of the Internal Revenue Code.
A sampling of the services we have provided for our tax-exempt clients includes:
- Obtained IRS "determination letters" that exempt organizations from federal taxation
- Provided advice to private foundations regarding tax exempt qualification, self-dealing, required charitable distributions, prudent investment standards, program-related investments and expenditure responsibility
- Advised individuals on charitable giving strategies
- Negotiated resolutions of IRS controversies
- Assisted clients in minimizing unrelated business taxable income
- Structured joint ventures and other strategic alliances between exempt organizations and for-profit enterprises
- Established taxable subsidiaries and other affiliates of exempt organizations
- Structured licensing arrangements between exempt organizations and for-profit enterprises
- Advised exempt organizations and executives on executive compensation in light of intermediate sanctions
- Advised exempt organizations on international philanthropy
