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

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Sharing Strengths: A Few Questions and Answers about Nonprofit Joint Ventures with For Profit Entities*

What could a nonprofit public charity of modest means have in common with National Geographic Society and 21st Century Fox?  Plenty, if the nonprofit teams up financially with a business for charitable ventures, such as to promote media projects, medical services, and a host of other activities leveraging multiple resources.

Last September, venerable nonprofit National Geographic Society (NGS or Society) teamed up with 21st Century Fox (Fox) to form a powerful new for-profit media company called National Geographic Partners (NG Partners). In exchange for $725 million from Fox, National Geographic transferred its media-related assets, including its television channels and magazine to the new jointly-held for-profit company in which Fox and NGS have 73%/27% financial stakes respectively.  To be sure, the “wow factor” and scope of this collaboration, or joint venture, between NGS and Fox is unusual.  But the underlying rationale for joint ventures is not novel.  Joint ventures are a relatively common way nonprofits develop new avenues of financing, and new opportunities for collaboration.  In these ways, the NGS/Fox deal is fairly typical.  However, this deal does raise several important questions nonprofits thinking about joint ventures with for-profit entities should consider. 

NONPROFIT LAW NEWSFEED

EU Slams Law Increasing Transparency for its Donations to Israeli NGOs

The Jerusalem Post  The new NGO Transparency Law subverts Israel and the European Union's shared democratic values, the European Commission's spokesperson said Tuesday.

Churches challenge state on gender identity law

The Des Moines Register  Two conservative Iowa churches contend the Iowa Civil Rights Commission is violating their rights to free speech and religious liberty by censoring their views on

With DNC just weeks away, host committee still waiting for green light from IRS

Philadelphia Inquirer  The local fund-raising committee for the Democratic National Convention still has not received tax-exempt status from the IRS, and that could affect donors who want

IRS Issues Regulations Affecting Compensation Arrangements at Tax-Exempt Organizations

On June 21, the IRS issued long awaited proposed regulations under Section 457 of the Internal Revenue Code that affect a broad range of compensation arrangements at tax exempt organizations.

EXPERT VIEWS- How will 'Brexit' affect aid agencies and charities?

Thomson Reuters Foundation News "Leaving the EU must not mean turning our backs on the world"

Bill would ban sex offenders from nonprofits serving victims

Lansing State Journal  Michigan currently has no law that would have prohibited a Lansing nonprofit that serves sexual assault victims from using registered sex offenders as volunteers, bu

Finance chairman concerned about findings of review into museums

The Hill  The area of the tax code governing tax-exempt, private museums may be “ripe for exploitation,” Senate Finance Committee Chairman Orrin Hatch (R-Utah) told the Internal Revenue Se

I.R.S. Ruling Is Obstacle to Health Care Networks Promoted by Obama

The New York Times  A ruling by the Internal Revenue Service creates a significant obstacle to a new type of health care network that the Obama administration has promoted as a way to prov

IL Supreme Court to tackle hospital property taxes, rights of protesters in Grant Park

Cook County Record  The Illinois Supreme Court will weigh in on the question of whether Illinois law can constitutionally exempt hospitals from paying property taxes.

Opinion: My charitable donations are none of your beeswax

Crain's Chicago Business  In President Barack Obama's recent commencement address at Howard University, he decried attacks on free speech that frequently take the form of campus protests a

EU Slams Law Increasing Transparency for its Donations to Israeli NGOs

The Jerusalem Post  The new NGO Transparency Law subverts Israel and the European Union's shared democratic values, the European Commission's spokesperson said Tuesday.

Churches challenge state on gender identity law

The Des Moines Register  Two conservative Iowa churches contend the Iowa Civil Rights Commission is violating their rights to free speech and religious liberty by censoring their views on