Nonprofit Issues, Audit and Analysis:

Although the substantive activities of Tax Exempt Organizations vary greatly, they all share the need for expert knowledge and advice on common issues. In recent years the Internal Revenue Service has maintained close scrutiny of Tax Exempt Organizations, their executive directors and boards of directors. In an effort to prepare and combat undesired consequences, we suggest an initial and annual analysis for “risk exposure” and tailor this analysis to the specific needs of each Tax Exempt Organization. This analysis includes reviewing corporate governance documents, director and officer liability issues, tax and regulatory filings, investment policies, maintenance of exempt status, financial policies, conflict of interest policies and a review of insurance coverage. A written report is provided advising the Board on findings and a proposal for correcting problems if any should exist. We believe this analysis is essential because of the IRS’s intense scrutiny of the Tax Exempt Organization area together with their emphasis of placing liability on individuals and the potential for converting public foundations to liability under the private foundation rules.

At Coulter & Associates we represent nonprofit and charitable organizations, underwriters, and philanthropists, advising on the technicalities of federal and state tax exemption, tax-exempt financing and fundraising, unrelated business income taxation and nonprofit corporate governance. In addition, we seek to provide practical advice on operating and general business issues relevant to the TEO. We represent tax-exempt clients in audits by the Internal Revenue Service, and state Attorneys General, and we have considerable experience with issues of concern to tax-exempt clients, such as threatened revocation of tax-exempt status, unrelated business income tax, and corporate control litigation. The firm also represents charities and donors in structuring and documenting detailed charitable giving arrangements, including charitable remainder and lead trusts, pooled income funds, gift annuities, as well as other philanthropic vehicles.

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