The low-profit LLC pioneered in Vermont and adopted in less than a dozen jurisdictions has PRI requirements "hardwired" into its governing documents, but whether this will make it easier for a foundation's PRIs to qualify remains an open question.
The low-profit LLC pioneered in Vermont and adopted in less than a dozen jurisdictions has PRI requirements "hardwired" into its governing documents, but whether this will make it easier for a foundation's PRIs to qualify remains an open question.
DISCLAIMER: This Update is provided for informational purposes only. It is not intended as legal advice nor does it create an attorney/client relationship between Adler & Colvin and any readers or recipients. Readers should consult counsel of their own choosing to discuss how these matters relate to their individual circumstances. Reproduction in whole or in part is prohibited without the express written consent of Adler & Colvin.
This Update may be considered attorney advertising in some states. Furthermore, prior results do not guarantee a similar outcome.
Our blog looks at legal issues in the nonprofit and tax-exempt organizations world. Written by the attorneys and paralegals of Adler & Colvin, it provides updates and analysis regarding philanthropy, charity, and other exempt organization issues.
Explore BlogSign up to be notified when we publish news and articles that impact the nonprofit and philanthropic legal landscape.