COURSE NUMBER & NAME: 370 Nonprofit Organizations

CREDIT HOURS: Three (3) REQUIRED: no ELECTIVE: yes

PREREQUISITES (Required): Income Tax.

PREREQUISITES (Advised): Business Organizations.

WHEN OFFERED:

SUBSTANTIVE COVERAGE AND OBJECTIVES OF COURSE:

This course covers the state law requirements regarding the organization and operation of nonprofit organizations. In addition, a heavy emphasis is placed on the federal income tax treatment of nonprofit organizations, including the requirements for obtaining and maintaining tax-exempt status, the distinction between a public charity and a private foundation, the private foundation excise taxes, and the unrelated business income tax.

RELATION TO OTHER OFFERINGS IN CURRICULUM:

Income Tax, Federal Taxation of Business Enterprise (Corporate Tax), Business Organizations.

RELATION TO BAR EXAM SUBJECTS:

None.

RELATION TO CAREER OPPORTUNITIES:

Private practice or in-house legal counsel for charitable organizations (formation, planning, compliance). Extremely valuable for pro bono