Insights on Nonprofits & Associations

Good nonprofit governance is challenging. It involves crafting and implementing smart policies that can be clearly communicated and anticipate future problems.

Yesterday, the chairmen of the Senate Finance Committee and the House Ways and Means Committee introduced The Tax Relief for American Families and Workers Act of 2024, which proposes changes to the child tax credit, low-income housing credit, deductibility of research and development expenditures.

This constitutes the third in a four-part series that discusses the practice of repledging (sometimes referred to as “rehypothecation”), how standard agreements allow for repledging, the treatment of repledging under current law, the potential pitfalls of which borrowers should be aware, and how borrowers can protect themselves going forward.

The US Department of the Treasury (Treasury Department) and Internal Revenue Service (IRS) recently published proposed regulations under Section 4966 to provide additional guidance on several issues related to creating and administering a donor-advised fund (DAF).

For better or worse, generative artificial intelligence (GenAI) is already transforming the way we live and work. Within two months of its initial release to the public, ChatGPT reached 100 million monthly active users, making it the fastest-growing consumer application in history.

ArentFox Schiff’s clients report being inundated with notices from registered agents and other service providers to comply with the Corporate Transparency Act (CTA), a new law that will require many existing and newly formed entities to register with and disclose beneficial ownership information to the US government’s Financial Crimes Enforcement Network (FinCEN) beginning on January 1, 2024.

US Dollar London InterBank Offered Rate (LIBOR) had been considered the world’s most important number, as it was utilized in hundreds of trillions of dollars of financial instruments worldwide. However, as a result of the LIBOR manipulation scandal that erupted in June 2012, LIBOR, as we knew it, is no more.

Recently, there has been an ever-increasing trend of companies utilizing “bring your own device” (BYOD) policies that permit employees to use their own personal devices, such as smartphones, tablets, or laptops, for work purposes.

Megan (Woodward) Daily was profiled by Washington Lawyer magazine on her ongoing dedication to pro bono work, specifically with the Nonprofit and Small Business Legal Assistance Programs at the DC Bar Pro Bono Center.

In light of the banking failures of Silicon Valley Bank, Signature Bank and First Republic (as well as Credit Suisse), this summer, the Federal Reserve and the FDIC proposed guidance and rules for larger banks.

The Internal Revenue Service (IRS) and the US Department of the Treasury released final regulations on October 16 that address the changes enacted by the Pension Protection Act of 2006 (PPA).

The Inflation Reduction Act (IRA), which recently celebrated its one-year anniversary, presents new opportunities for tax-exempt and other organizations to directly benefit from renewable energy tax credits, including investment tax credits (ITCs) and production tax credits (PTCs).

Artificial intelligence promises to transform the way we live and work and its impact will undoubtedly stretch to every business sector across the globe. This next generation of technology brings exciting possibilities and unknown legal risks.

ArentFox Schiff is pleased to announce that 130 attorneys have been recognized by The Best Lawyers in America 2024, with an additional four attorneys highlighted as “Lawyers of the Year” and 69 attorneys listed as “Ones to Watch.”

The US Congress has announced it will be conducting hearings on whether tax-exempt entities are abiding by existing laws that regulate the amount of partisan activity they may engage in — and whether foreign money is being funneled through these organizations.

On May 15, 2023, Florida Governor Ron DeSantis signed legislation that impedes Diversity, Equity, and Inclusion (DEI) programs at public higher education institutions throughout the state.

Generative Artificial Intelligence (AI) is already transforming the way we live and work. Within two months of its initial release to the public, ChatGPT reached 100 million monthly active users, making it the fastest-growing consumer application in history.

Fredrick Weber will present at the Planned Giving Roundtable of Southeast Michigan on June 7, 2023.

There are major issues arising from the phaseout of the US Dollar London InterBank Offered Rate (LIBOR), which will soon become apparent in connection with LIBOR’s fast-approaching end date. This will dramatically impact many issuers, holders, and trustees of variable rate notes and bonds.

Join nonprofit and association executives and the members of ArentFox Schiff’s Nonprofits & Associations industry group for an update about what to expect from Congress and the Administration, and what this activity on Capitol Hill could mean for nonprofits, associations, and their stakeholders.

ArentFox Schiff served as outside counsel to California State University in a long-term stadium licensing deal with San Diego’s new MLS expansion team.

Shira Helstrom will present on “Tax Updates and Planning Strategies” on May 18, 2023.

“This is the new arms race.” That’s how Missouri State Representative and former University of Missouri offensive lineman Kurtis Gregory described the burgeoning patchwork of state laws that govern student athletes’ ability to profit from their name, image, and likeness (NIL).

Megan Daily will present “What’s in a Contract and Why” at the DC Pro Bono Center’s Understanding the Fundamentals of Nonprofit Organizations seminar series on April 27, 2023.

On April 3, 2023, the United Kingdom Financial Conduct Authority (UK FCA) announced a final decision on the transition of US Dollar London InterBank Offered Rate (USD LIBOR).