Joint Ventures Involving Tax-Exempt Organizations, 2018 Cumulative Supplement , 4th Edition

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Effective strategies for non-profit entities in a profit-based world

Joint Ventures Involving Tax-Exempt Organizations examines the procedures, rules, and regulations surrounding joint ventures and partnerships, emphasizing tax-exempt status preservation. Revised and updated to align with current 2017 Tax Act, this supplement offers expert interpretation and practical guidance to professionals seeking a complete reference, including an analysis of impact of the “siloing” of the UBIT rules, the new Opportunity Zone Funds which will incentivize investors in designated census tracts, inter alia. Sample documents enable quick reference and demonstrate real-world application of new laws and guidelines. The discussion delves into planning strategies that can be applied to joint ventures and partnerships while maintaining tax-exempt status, and which joint ventures are best suited for a particular organization.

Widely accepted business strategies for profit-based entities, joint ventures, partnerships, and alliances are increasingly being used by nonprofits in need of additional financial support in challenging economic environments. This book provides invaluable guidance to appropriate planning and structuring while complying with tax-exemption guidelines.

  • Identify the most appropriate transactions for nonprofit organizations
  • Recognize potential problems stemming from debt restructuring and asset protection plans
  • Reference charitable organization, partnerships, and joint venture taxation guidelines
  • Understand which joint venture configurations are best suited to tax-exempt organizations

Joint ventures and partnerships are currently employed by a variety of not-for-profit organizations while maintaining their tax-exempt status. Hospitals, research laboratories, colleges and universities, charter and special-needs schools, low-income housing developments, and many others are reaping the benefits of joint venture participation—but without careful planning and accurate interpretation of current laws, these benefits can be erased by loss of tax-exempt status. Joint Ventures Involving Tax-Exempt Organizations provides practical, up-to-date guidance on realizing the full benefits and avoiding the hazards unique to nonprofit organizations. 

Preface

Acknowledgments

Chapter 1: Introduction: Joint Ventures Involving Exempt Organizations

1.4 University Joint Ventures

1.5 Low-Income Housing and New Markets Tax Credit Joint Ventures

1.6 Conservation Joint Ventures

1.8 Rev. Rul. 98-15 and Joint Venture Structure (New)

1.10 Ancillary Joint Ventures: Rev. Rul. 2004-51

1.14 The Exempt Organization as a Lender or Ground Lessor

1.15 Partnership Taxation

1.17 Use of a Subsidiary as a Participant in a Joint Venture

1.22 Limitation on Private Foundation’s Activities That Limit Excess Business Holdings

1.24 Other Developments

Chapter 2: Taxation of Charitable Organizations

2.1 Introduction (Revised)

2.2 Categories of Exempt Organizations

2.3 § 501(c)(3) Organizations: Statutory Requirements (Revised)

2.6 Application for Exemption (Revised)

2.7 Governance (Revised)

2.8 Form 990: Reporting and Disclosure Requirements

2.10 The IRS Audit

2.11 Charitable Contributions

Chapter 3: Taxation of Partnerships and Joint Ventures

3.1 Scope of Chapter (New)

3.3 Classification as a Partnership

3.4 Alternatives to Partnerships

3.7 Formation of Partnership (New)

3.8 Tax Basis in Partnership Interest (Revised)

3.9 Partnership Operations

3.11 Sale or Other Disposition of Assets or Interests (Revised)

3.12 Other Tax Issues (Revised)

Chapter 4: Overview: Joint Ventures Involving Exempt Organizations

4.1 Introduction (New)

4.2 Exempt Organization as General Partner: A Historical Perspective (Revised)

4.6 Revenue Ruling 2004-51 and Ancillary Joint Ventures

4.9 Conversions from Exempt to For-Profit and from For-Profit to Exempt Entities

4.10 Analysis of a Virtual Joint Venture

Chapter 5: Private Benefit, Private Inurement, and Excess Benefit Transactions

5.1 What Are Private Inurement and Private Benefit?

5.2 Transactions in Which Private Benefit or Inurement May Occur

5.3 Profit-Making Activities as Indicia of Nonexempt Purpose

5.4 Intermediate Sanctions (Revised)

5.7 State Activity with Respect to Insider Transactions

Chapter 6: Engaging in a Joint Venture: The Choices

6.1 Introduction (New)

6.2 LLCs

6.3 Use of a For-Profit Subsidiary as Participant in a Joint Venture (Revised)

6.5 Private Foundations and Program-Related Investments (Revised)

6.6 Nonprofits and Bonds

6.7 Exploring Alternative Structures

6.8 Other Approaches (Revised)

Chapter 7: Exempt Organizations as Accommodating Parties in Tax Shelter Transactions

7.2 Prevention of Abusive Tax Shelters

7.3 Excise Taxes and Penalties

Chapter 8: The Unrelated Business Income Tax

8.1 Introduction

8.3 General Rule (Revised)

8.4 Statutory Exceptions to UBIT (New)

8.5 Modifications to UBIT (New)

8.7 Calculation of UBIT (New)

Chapter 9: Debt-Financed Income

9.1 Introduction

9.2 Debt-Financed Property (Revised)

9.6 The Final Regulations

Chapter 10: Limitation on Excess Business Holdings

10.1 Introduction

10.2 Excess Business Holdings: General Rules (Revised)

10.3 Tax Imposed

10.4 Exclusions (Revised)

Chapter 12: Healthcare Entities in Joint Ventures

12.1 Overview (New)

12.2 Classifications of Joint Ventures

12.3 Tax Analysis (Revised)

12.4 Other Healthcare Industry Issues

12.5 Preserving the 50/50 Joint Venture (Revised)

12.9 Government Scrutiny

12.11 The Patient Protection and Affordable Care Act of 2010: 501(r) and Other Statutory Changes Impacting Nonprofit Hospitals

12.12 The Patient Protection and Affordable Care Act of 2010: ACOs and Co-Ops: New Joint Venture Healthcare Entities

Chapter 13: Low-Income Housing, New Markets, Rehabilitation, and Other Tax Credit Programs

13.3 Low-Income Housing Tax Credit (Revised)

13.4 Historic Investment Tax Credit

13.6 New Markets Tax Credits (Revised)

13.10 The Energy Tax Credits

13.11 The Opportunity Zone Funds: New Section 1400Z-1 and Section 1400Z-2 (New)

Chapter 14: Joint Ventures with Universities

14.1 Introduction (New)

14.5 Faculty Participation in Research Joint Ventures

14.6 Nonresearch Joint Venture Arrangements

14.7 Modes of Participation by Universities in Joint Ventures (Revised)

Chapter 15: Business Leagues Engaged in Joint Ventures

15.1 Overview (Revised)

15.2 The Five-Prong Test

15.3 Unrelated Business Income Tax

Chapter 16: Conservation Organizations in Joint Ventures

16.1 Overview

16.2 Conservation and Environmental Protection as a Charitable or Educational Purpose: Public and Private Benefit (Revised)

16.3 Conservation Gifts and 170(h) Contributions (Revised)

16.7 Emerging Issues (Revised)

Chapter 17: International Joint Ventures

17.5 General Grantmaking Rules

17.11 Application of Foreign Tax Treaties (Revised)

Chapter 19: Debt Restructuring and Asset Protection Issues

19.1 Introduction (New)

19.2 Overview of Bankruptcy (Revised)

19.3 The Estate and the Automatic Stay (Revised)

19.4 Case Administration (Revised)

19.5 Chapter 11 Plan (Revised)

19.6 Discharge (New)

Index

MICHAEL I. SANDERS (Washington DC) is the lead partner of Blank Rome's Washington office's tax group with a large practice in the area of exempt organizations involving healthcare and low-income housing, associations and joint ventures between for-profits and nonprofits, as well as structuring New Markets Tax Credit transactions. Sanders is also an adjunct professor at George Washington University Law Center and Georgetown University Law School teaching Income Taxation of Partnerships and Subchapter S Corporations and Tax Treatment of Charities and Other Non-Profit Organizations, Joint Ventures Involving Tax Exempt Organizations (including healthcare, universities, LIHTC, new markets, conservation organizations, respectively. Previously, Mr. Sanders served as an attorney-advisor to the assistant secretary of tax policy at the Office of Tax Legislative Counsel and as a trial attorney at the U.S. Department of Justice (Attorney General's Honors Program). He was recently honored in 2010 by The George Washington University School of Law for his 35 years of teaching at the law school.