Governing Nonprofit Organizations: Federal and State Law and RegulationHarvard University Press, 15 Des 2008 - 570 halaman The nonprofit sector is a vital component of our society and is allowed the greatest freedom to operate. The public understandably assumes that since nonprofit organizations are established to do good, the people who run nonprofits are altruistic, and the laws governing nonprofits have reflected this assumption. But as Marion Fremont-Smith argues, the rules that govern how nonprofits operate are inadequate, and the regulatory mechanisms designed to enforce the rules need improvement. Despite repeated instances of negligent management, self-interest at the expense of the charity, and outright fraud, nonprofits continue to receive minimal government regulation. In this time of increased demand for corporate accountability, the need to strengthen regulation of nonprofits is obvious. Fremont-Smith addresses this need from a historical, legal, and organizational perspective. She combines summaries and analysis of the substantive legal rules governing the behavior of charitable officers, directors, and trustees with descriptions of the federal and state regulatory schemes designed to enforce these rules. Her unique and exhaustive historical survey of the law of nonprofit organizations provides a foundation for her analysis of the effectiveness of current law and proposals for its improvement. |
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Current Challenges for Specific Components of the Sector | 9 |
Educational Organizations | 10 |
Arts and Cultural Organizations | 11 |
Foundations and Other Grantmakers | 12 |
How Extensive Is Wrongdoing in the Sector? | 13 |
The Operational Test | 247 |
Prohibition against Private Inurement | 248 |
Limitation on Private Benefit | 250 |
Prohibition against Excess Benefit Transactions Applicable to Publicly Supported Charities | 252 |
Disqualified Persons | 253 |
Excess Benefits | 255 |
RevenueSharing Arrangements | 257 |
Rebuttable Presumption of Reasonableness | 258 |
Policy Issues Facing the Nonprofit Sector in the TwentyFirst Century | 15 |
A Brief History of the Law of Charities | 19 |
Islamic Foundations | 21 |
Charities in England | 22 |
Development of Trusts | 23 |
Restrictions on Charitable Gifts | 26 |
The Statute of Charitable Uses | 28 |
The Role of the Attorney General and the Charity Commission | 32 |
Regulation of Charities after 1950 | 35 |
Developments in Substantive Charity Law after 1601 | 36 |
Charitable Corporations | 40 |
Charities in the United States | 43 |
Development of the IMW of Charitable Trusts | 44 |
Charitable Purposes | 48 |
Charitable Corporations | 49 |
State Regulation of Charities | 53 |
The Internal Revenue Code | 56 |
Deducibility of Contributions | 62 |
Federal Reporting and Disclosure Requirements | 65 |
Congressional Investigations of Charities prior to 1969 | 67 |
The Walsh Commission | 68 |
The Cox and Reece Committees | 69 |
The Patman Committee | 72 |
1965 Treasury Department Report on Private Foundations | 76 |
Tax Reform Act of 1969 | 77 |
Reactions to the Tax Reform Act from the Nonprofit Sector | 80 |
The Filer Commission | 81 |
Congressional Activity after the Tax Reform Act of 1969 | 84 |
Lobbying by Public Charities | 86 |
Standards for Exemption of Hospitals | 90 |
Regulation of Church Activities | 91 |
Relief for Victims of the Terrorist Attacks of September 2001 | 93 |
The Effectiveness of the IRS as Regulator | 97 |
Intermediate Sanctions for Excess Benefit Transactions | 98 |
Other Changes in Substantive Laws after 1970 | 100 |
Application of the Public Policy Doctrine to Definitions of Charitable Purposes | 101 |
The Subsidy Theory | 104 |
Lobbying | 106 |
UBIT and Commercial Activities | 107 |
Regulation of Public Companies and Auditing Firms in 2002 and 2003 | 109 |
Treasury Department AntiTerrorist Financing Guidelines | 110 |
Conclusion | 114 |
Creation Administration and Termination of Charities | 116 |
Charitable Purposes | 117 |
Motives of Donors | 125 |
Charitable Purposes for Nonprofit Corporations | 126 |
Requirement of Indefinite Beneficiaries | 127 |
Definitions in State Tax Laws | 130 |
The Trust Form for Charities | 133 |
Creation of Charitable Trusts | 134 |
Duration and Restrictions on Remoteness of Vesting | 135 |
Termination | 136 |
Accumulation of Income | 138 |
Administrative Powers of Trustees | 143 |
Discretionary Powers of Trustees | 145 |
Exercise of Powers by Majority of Trustees | 146 |
Compensation of Trustees | 147 |
Liability to Third Persons | 148 |
Court Supervision of Trusts | 149 |
Development of a Model Nonprofit Corporation Act | 151 |
Creation of Charitable Corporations | 152 |
Power of the Legislature to Modify Corporate Charters | 153 |
Restrictions on Holdings of Charitable Corporations | 154 |
Duration | 155 |
Accumulation of Income | 158 |
Administrative Duties of Directors | 161 |
Administrative Powers of Directors | 165 |
Discretionary Powers of Directors | 168 |
Ultra Vires Contracts | 169 |
Trust Rules Inapplicable to Corporations | 170 |
Reporting Provisions | 172 |
The Doctrines of Cy Pres and Deviation | 173 |
Deviation | 182 |
Application to Charitable Corporations | 184 |
Fiduciary Duties State Law Standards | 187 |
Duty of Prudence | 188 |
The Modern Prudent Investor Rule | 189 |
Standards for Investments | 190 |
Diversification | 194 |
Duty of Loyalty | 195 |
Liability of Trustees for Breach of Trust | 197 |
Exculpatory Clauses | 199 |
Duty of Care | 201 |
Reliance | 205 |
Review of Current Law | 207 |
The Business Judgment Rule Limitation on Liability | 209 |
The Duty of Care as Related to Investments | 211 |
The Uniform Management of Institutional Funds Act UMIFA | 212 |
Loyalty Fair Dealing | 215 |
Statutory Formulations of the Duty of Fair Dealing | 218 |
Definitions of Conflicts of Interest | 219 |
Duty to Mission and the Cy Pres Doctrine | 225 |
Prohibition against Loans to Directors | 226 |
Indemnification Insurance and Liability Shields | 227 |
Shifting the Burden of Proof | 229 |
State Prohibitions Based on Federal Tax Laws | 230 |
Protection of Volunteer Directors from Tort Liability | 232 |
Proposals for Reform | 233 |
Duty of Loyalty | 234 |
The Internal Revenue Code | 238 |
Permitted Purposes for TaxExempt Charities | 241 |
Basic Requirements for Exemption | 246 |
Excise Taxes on Disqualified Persons | 259 |
Excise Tax on Manager | 260 |
Section 4958 and Revocation of Exemption | 262 |
Restrictions on Private Foundations | 264 |
Internal Revenue Code Definition of Private Foundations | 265 |
Governing Instrument Requirements and Termination Rules | 267 |
Disqualified Persons | 268 |
SelfDealing | 269 |
Mandatory Distributions | 272 |
Excess Business Holdings | 276 |
Jeopardy Investments | 278 |
Taxable Expenditures | 280 |
Impact of Chapter 42 on Charitable Fiduciaries | 283 |
Reconciling Chapter 42 and the Excess Benefits Provisions | 285 |
Restrictions on Lobbying Activities | 286 |
Unrelated Business Income Tax | 289 |
Joint Ventures and Taxable Subsidiaries Conducting Exempt Activities | 295 |
The Role of the Internal Revenue Code in Assuring Compliance with Fiduciary Duties | 299 |
Regulation of Charities in the States | 301 |
The Courts | 302 |
The Attorney General | 305 |
Statutes Enhancing Attorney Generals Enforcement Powers | 311 |
Registration and Reporting Requirements | 315 |
Power to Conduct Investigations | 317 |
Required Notice to Attorney General of Judicial Proceedings | 318 |
Power of the Attorney General over Conversions | 319 |
The Role of the Attorney General in Interstate Disputes | 321 |
Charities Seeking to Move Out of the State of Origin | 322 |
Charities Operating Outside Their State of Origin | 323 |
Standing to Sue to Enforce Duties of Charitable Fiduciaries | 324 |
Exclusion of the General Public | 325 |
Standing to Sue Granted to Certain Interested Parties | 328 |
Review of Recent Standing Cases | 330 |
Proposals for Reform of Standing Rules | 336 |
Reserved Rights of Donors and Heirs | 338 |
Parties to Suits Involving Charities | 342 |
Proper Parties | 348 |
Statutes of Limitations and Laches as Bars to Actions | 349 |
Effective State Enforcement Programs | 351 |
California | 352 |
New York | 353 |
Ohio | 356 |
Massachusetts | 357 |
Other Jurisdictions | 360 |
The Legislature | 361 |
Supervision by Other State Agencies | 364 |
Departments of Education Health and Similar Agencies | 365 |
Supervision of Bank and Trust Companies | 367 |
Departments of Tax and Revenue | 368 |
Regulation of Charitable FundRaising | 370 |
Proposals for Independent Boards for Charity Supervision | 375 |
The Role of the Federal Government in the Regulation of Charities | 377 |
General Accounting Office | 381 |
The Treasury | 382 |
Promulgation of Regulations | 383 |
Treasury Oversight of Published Rulings | 385 |
Treasury Department Antiterrorist Activities | 386 |
The Internal Revenue Service | 387 |
Regulation of Exempt Organizations in the Restructured IRS | 389 |
Role of IRS Counsel | 393 |
Commissioners Advisory Committee on TaxExempt and Government Entities | 394 |
Components of IRS Regulation | 395 |
Information Releases and Notices | 396 |
Limits on Disclosure of IRS Actions | 397 |
Department of Justice and the Solicitor General | 400 |
The Courts | 401 |
Declaratory Judgment Procedure on Denial or IMSS of Exemption | 402 |
Appellate Courts | 403 |
Tax Regulation in Operation | 405 |
Information and Tax Returns | 409 |
Record Retention | 415 |
Audit Process | 417 |
Appeals Process | 421 |
Standing to Sue | 422 |
Other Federal Agencies That Regulate Charities | 423 |
FederalState Cooperation | 426 |
Improving the Law and Regulation of Charities | 428 |
State Laws Governing Charities and Their Fiduciaries | 430 |
Duty of Care | 432 |
Duty of Loyalty | 435 |
Indemnification DO Insurance and Liability Shields | 437 |
Cy Pres Deviation Amendment Powers | 438 |
Rights and Duties of Members | 440 |
Powers of Donors | 441 |
State Regulation of Charities | 443 |
Standing to Sue | 448 |
Other State Agencies Regulating Specific Charitable Activities | 449 |
Federal Laws Governing Charities and Their Fiduciaries | 450 |
Financial Reporting | 457 |
The Effect of Privatization on Nonprofits | 459 |
Proposals to Change the Situs of Regulation | 461 |
The Role of the Charitable Sector | 466 |
Organizations Monitoring and Studying Nonprofit Activity | 469 |
Measuring Performance | 470 |
The Future of the Law and Regulation of Charities | 471 |
Appendix | 475 |
State laws governing creation administration and dissolution of charities | 476 |
Cy pres doctrine applicable to outright transfers and trusts | 512 |
Fiduciary duties under state laws | 514 |
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Edisi yang lain - Lihat semua
Governing Nonprofit Organizations: Federal and State Law and Regulation Marion R. Fremont-Smith Tampilan cuplikan - 2004 |
Governing Nonprofit Organizations: Federal and State Law and Regulation Marion R. Fremont-Smith,Marion R Fremont-Smith Pratinjau tidak tersedia - 2008 |
Istilah dan frasa umum
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