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Teenagers have proved time and time again that they can lend their voices towards achieving significant change. Some social activists became household names before adulthood, like Malala, and Greta Thunberg. When they began their activism, they were minors, and in some jurisdictions would have been barred from sitting on non-profit organization boards. A youth board member can provide many benefits to an organization… Read On
Since the COVID-19 pandemic began, information on the disease and recommended precautions have changed constantly. While scientists originally believed that this strain of the disease was only spread through animals, intensive research since has shown that COVID-19 spreads through direct, indirect, or close contact with infected people or surfaces. People with the infection can transmit it through saliva… Read On
Scholarships can be extremely beneficial in supporting athletes during college, but the National Collegiate Athletic Association (NCAA) places certain restrictions on funding that is awarded on the basis of athletic achievement. The NCAA is led by its members and aims to support the well-being and success of college athletes. The organization funds championships and travel costs… Read On
Traditionally, when a group or an individual wanted to form an entity to carry out a project with a charitable purpose which would not be subject to federal income tax and to which federally tax-deductible charitable contributions could be made, they formed a nonprofit corporation. Then, the corporation would apply to the Internal Revenue Service (“IRS”) for a Determination Letter which affirms that the corporation is nontaxable for federal income tax purposes and can receive federally tax-deductible contributions… Read On
After passage of the Pension Protection Act in 2006, employer hardship funds sponsored by a charitable organization (“sponsored hardship funds”) potentially became a problem for employers and the sponsoring organization. Section 4966 of the Internal Revenue Code (“IRC”) defined such funds as ‘‘donor advised funds” and imposed taxable “distributions” from the funds on fund managers and recipient individuals… Read On
Margin loans were created to allow an investor to use securities already owned as collateral for a loan to purchase more securities. An investor can offer up to 50 percent of a securities portfolio as collateral on the margin loan, provided they are pre-approved stocks. The investor can then purchase more securities, without having to sell the originals… Read On
The limited liability company (“LLC”) is popular with both companies and individuals looking to form new businesses and acquire property due to it combining many of the advantages of both corporations and partnerships. LLCs, when properly managed, shield owners from liability for the debts, obligations, and other liabilities of the LLC. A corporation may create separate LLCs for subsidiaries in order to protect other parts of the company… Read On
