Students will know the main issues involved in the laws, procedures, and policies currently justifying the granting of tax-exempt status to organizations.
Internal Revenue Code Analysis
Students will learn to understand, interpret, and analyze the relevant sections of the Internal Revenue Code dealing with tax-exempt organizations, specifically sections 501-514 and related excise tax provisions, together with controlling regulations, IRS rulings and publications, and judicial decisions.
Students will become conversant with and prepared to deal with the basic stages in the life cycle of a tax-exempt organization, including creation of the organization, obtaining tax qualification, complying with laws regulating the solicitation of contributions, managing the daily operation of the business, fulfilling fiduciary duties, and dissolving or transforming one organization into another entity.
Compare and Contrast
Students will be able to identify and appreciate the important similarities and differences between the various types of tax-exempt organizations and the policy or political reasons for those similarities and differences, and compare and contrast the state and federal regulations for governance and accountability of those various forms of non-profit entities and be able to articulate their strengths and limitations.
Students will develop the practical and problem-solving skills necessary to create and effectively evaluate the documents required to form, operate, or contribute to a tax-exempt organization.
Students will learn how to access and use the essential legal resources, forms, and other tools necessary in competently serving and representing a tax exempt organization.