Centuries-Old Religious Dispute: A New Twist  

Myer Myers (1723-1795) was an acclaimed New York City silversmith. Some 380 of his magnificent works “survive in museums and private collections.” He is an important figure, too, in the history of American Jews of the Colonial period. Of Sephardic origin, Myers was a member of Congregation Shearith Israel, the oldest Jewish congregation in the United States. This master crafter created many silver works for his Read More

Public Disclosure of 990s: What You Need to Know

When you file your personal income tax return each April 15th, you're entitled to secrecy about it unless you choose to show it to another person, submit it to a bank, or send it out to the general public with a flashy press release. For a 501(c)(3) organization, the rules are different: A tax-exempt group must make its Form 990 information return available upon request to the general public. These disclosure Read More

Starting a Business? We're With You Every Step of the Way

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Happy Thanksgiving from ALL of Us at For Purpose Law Group!

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Key Cybersecurity Threats for Nonprofits

Back in November 2016, we issued a warning in Nonprofits and Cybersecurity: Make it a Priority: "Hacking is big news these days." There is a false belief that cyber threats are aimed at major businesses, governments, news organizations and other political targets. The reality is sobering: The risk is much more widespread, and has devastating consequences, financially and legally. ‘Cyber threats are a factor for any Read More

Nonprofits and The Tax Bills: A Half-Time Update

Since the first days of January 2017, the party in control of both the White House and Congress has promised a major overhaul of the federal tax code. Until the first week of November 2017, when the House GOP leadership unveiled the “Tax Cuts and Jobs Act,” (H.R.1), there was little more than informed speculation about the particulars.      November Action on Tax Bills The sheer number and scope of proposals directly Read More

Own Rental Property? Then You Need Proactive Estate Planning

A comprehensive estate plan should address all of your assets. For most people, an estate plan must include three common categories: (1) your home; (2) financial accounts, like your checking and savings account; and (3) personal property. Other types of assets - such as life insurance, retirement funds, and annuities - should also be considered as part of your estate plan. If you own rental property, however, your Read More

Another Reminder to Pay Withholding Taxes

The year 2017 will not go down in the record books as a quiet or uneventful one, and while everyone's attention seems to be on the newly proposed tax plans released by the House and the Senate, nonprofits need to  remember the taxing requirements currently in place. For the philanthropy community, the new political reality poses enormous possible challenges, particularly for 501(c)(3)s which have, in the past, safely Read More

Berkshire Museum Drama Heats Up

Recently, in Controversial Decision for Berkshire Museum (10/11/17), we reported on an uproar last summer in the art world. The trustees of this 100-year-old institution in  Pittsfield, Massachusetts, had announced a decision to sell some 40 valuable and cherished works of art at a Sotheby’s auction set for November 2017. The board explained this plan was based on the Museum's perilous financial situation: an Read More

California Benefit Corporations: Sample Annual Reports

Social enterprises are hot: They are springing up around the United States. California has been in the forefront of this exciting new movement of hybrid corporations that combine profit motive with the goal of good works, community consciousness, and sustainability. A benefit corporation organized under California law will be similar, in many respects, to benefit corporations in other jurisdictions, but this state Read More