TRUSTED ADVISORS TO NONPROFITS

Wagenmaker & Oberly provides legal counsel to NONPROFIT ORGANIZATIONS across the nation with offices in Chicago and Charleston.

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Social Club Q & A: Section 501(c)(7) Tax-Exempt Organizations

Social clubs have long served as a defining characteristic of American society. While the nature of the hobbies, recreational interests, and other ties that inspire people to bond together continues to change significantly, the social club itself remains.  For people wishing to join with others and carry out shared interests in an organized way, the group should understand the tax benefits afforded social clubs.  Specifically, Section 501(c)(7) of the Internal Revenue Code provides an exemption from federal income tax if certain requirements are met.

NONPROFIT LAW NEWSFEED

Two groups are claiming to be the rightful Peoria Arizona Historical Society

Your West Valley  A fight to be the authority on preserving the history of Peoria has gone public.

Tourism officials suspend $18 million incentive for Noah’s Ark site over property transfer

Lexington Herald-Leader  The Kentucky Tourism Arts and Heritage Cabinet has suspended an incentive agreement worth up to $18 million with a Noah’s Ark-themed attraction in Grant County becau

N.J. Moves Against Nonprofit Health Organizations’ Reserves

The NonProfit Times  Revenue surpluses maintained by nonprofit health insurers in New Jersey are potentially up for grabs in legislation pushed by Gov.

Nonprofit groups with tax-exempt status still pay taxes in Denver — but soon that may change

The Denver Post  Nonprofit groups that have long been paying millions of dollars a year in Denver taxes on things such as purchases, hotel stays and even their employees soon could get som

Philanthropy Bill Introduced, Not Expected To Pass

The NonProfit Times  Senators John Thune (R-SD), Bob Casey (D-PA), Ron Wyden (D-OR), and Pat Roberts (R-KS) introduced S-1343, the Charities Helping Americans Regularly Throughout the Year

Supreme Court backs faith-based hospitals' ERISA exemptions

Modern Healthcare  The US Supreme Court on Monday unanimously issued a decision that revives a decades-old practice exempting faith-based hospitals from federal pension regulations.

Bank of America Executive Embezzlement Reaches Boston and Atlanta Nonprofits

Nonprofit Quarterly  A former Bank of America executive and her husband have been indicted on embezzlement charges, allegedly illegally funneling $2.7 million from the company in a five-ye

Carl Icahn’s Charity Supports Education—It Also Lent Him $119 Million

Wall Street Journal  Hundreds of charities lend money to their officials.

Expert: Bradley Foundation is walking fine line on politics

Journal Sentinel  The Lynde and Harry Bradley Foundation has been giving money to groups critical of labor unions for more than a decade — long before Gov.

Corrine Brown, ex-congresswoman, found guilty of taking money from fake charity

CBS News  After a historic, nearly 25-year career representing Florida in Congress, former U.S. Rep.

Two groups are claiming to be the rightful Peoria Arizona Historical Society

Your West Valley  A fight to be the authority on preserving the history of Peoria has gone public.

Tourism officials suspend $18 million incentive for Noah’s Ark site over property transfer

Lexington Herald-Leader  The Kentucky Tourism Arts and Heritage Cabinet has suspended an incentive agreement worth up to $18 million with a Noah’s Ark-themed attraction in Grant County becau