Preface xi Acknowledgments xv Chapter 1: Introduction: Joint Ventures Involving Exempt Organizations 1 § 1.4 University Joint Ventures 1 § 1.5 Low-Income Housing and New Markets Tax Credit Joint Ventures (Revised) 1 § 1.6 Conservation Joint Ventures 2 § 1.8 Rev. Rul. 98-15 and Joint Venture Structure 2 § 1.10 Ancillary Joint Ventures: Rev.
Rul. 2004-51 2 § 1.14 The Exempt Organization as a Lender or Ground Lessor 2 § 1.15 Partnership Taxation 3 § 1.17 Use of a Subsidiary as a Participant in a Joint Venture 3 § 1.22 Limitation on Private Foundation''s Activities That Limit Excess Business Holdings 4 § 1.24 Other Developments (Revised) 4 Chapter 2: Taxation of Charitable Organizations 7 § 2.1 Introduction (Revised) 7 § 2.
2 Categories of Exempt Organizations (Revised) 13 § 2.3 § 501(c)(3) Organizations: Statutory Requirements 17 § 2.4 Charitable Organizations: General Requirements 18 § 2.6 Application for Exemption 18 § 2.7 Governance 25 § 2.8 Form 990: Reporting and Disclosure Requirements (Revised) 26 § 2.10 The IRS Audit 28 § 2.11 Charitable Contributions (Revised) 31 Chapter 3: Taxation of Partnerships and Joint Ventures 39 § 3.
1 Scope of Chapter 39 § 3.3 Classification as a Partnership 42 § 3.4 Alternatives to Partnerships 42 § 3.7 Formation of Partnership 42 § 3.8 Tax Basis in Partnership Interest 43 § 3.9 Partnership Operations 43 § 3.11 Sale or Other Disposition of Assets or Interests 44 § 3.12 Other Tax Issues 45 Chapter 4: Overview: Joint Ventures Involving Exempt Organizations 51 § 4.
1 Introduction 51 § 4.2 Exempt Organization as General Partner: A Historical Perspective 52 § 4.6 Revenue Ruling 2004-51 and Ancillary Joint Ventures 54 § 4.9 Conversions from Exempt to For-Profit and from For-Profit to Exempt Entities 54 § 4.10 Analysis of a Virtual Joint Venture 54 Chapter 5: Private Benefit, Private Inurement, and Excess Benefit Transactions 57 § 5.1 What Are Private Inurement and Private Benefit? 57 § 5.2 Transactions in Which Private Benefit or Inurement May Occur 59 § 5.3 Profit-Making Activities as Indicia of Nonexempt Purpose 61 § 5.
4 Intermediate Sanctions (Revised) 61 § 5.7 State Activity with Respect to Insider Transactions 69 Chapter 6: Engaging in a Joint Venture: The Choices 71 § 6.1 Introduction 71 § 6.2 LLCs (Revised) 72 § 6.3 Use of a For-Profit Subsidiary as Participant in a Joint Venture (Revised) 73 § 6.5 Private Foundations and Program-Related Investments 80 § 6.6 Nonprofits and Bonds 84 § 6.7 Exploring Alternative Structures (Revised) 87 § 6.
8 Other Approaches (Revised) 88 Chapter 7: Exempt Organizations as Accommodating Parties in Tax Shelter Transactions 93 § 7.2 Prevention of Abusive Tax Shelters 93 § 7.3 Excise Taxes and Penalties 94 Chapter 8: The Unrelated Business Income Tax 95 § 8.1 Introduction 95 § 8.3 General Rule 96 § 8.4 Statutory Exceptions to UBIT 97 § 8.5 Modifications to UBIT 98 § 8.7 Calculation of UBIT (Revised) 98 Chapter 9: Debt-Financed Income 113 § 9.
1 Introduction 113 § 9.2 Debt-Financed Property 113 § 9.6 The Final Regulations 114 Chapter 10: Limitation on Excess Business Holdings 117 § 10.1 Introduction 117 § 10.2 Excess Business Holdings: General Rules 117 § 10.3 Tax Imposed 119 § 10.4 Exclusions 119 Chapter 12: Healthcare Entities in Joint Ventures 123 § 12.1 Overview (Revised) 123 § 12.
2 Classifications of Joint Ventures 124 § 12.3 Tax Analysis 125 § 12.4 Other Healthcare Industry Issues 127 § 12.5 Preserving the 50/50 Joint Venture 128 § 12.9 Government Scrutiny 128 § 12.11 The Patient Protection and Affordable Care Act of 2010: § 501(r) and Other Statutory Changes Impacting Nonprofit Hospitals 129 § 12.12 The Patient Protection and Affordable Care Act of 2010: ACOs and Co-Ops: New Joint Venture Healthcare Entities 132 Chapter 13: Low-Income Housing, New Markets, Rehabilitation, and Other Tax Credit Programs 133 § 13.2 Nonprofit-Sponsored LIHTC Project 133 § 13.
3 Low-Income Housing Tax Credit (Revised) 134 § 13.4 Historic Investment Tax Credit (Revised) 136 § 13.6 New Markets Tax Credits (Revised) 146 § 13.10 The Energy Tax Credits 161 § 13.11 The Opportunity Zone Funds: New Section 1400Z-1 and Section 1400Z-2 (Revised) 163 Appendix 13B 211 Chapter 14: Joint Ventures with Universities 229 § 14.1 Introduction (Revised) 229 § 14.3 Colleges and Universities IRS Compliance Initiative 233 § 14.5 Faculty Participation in Research Joint Ventures (Revised) 234 § 14.
6 Nonresearch Joint Venture Arrangements 237 § 14.7 Modes of Participation by Universities in Joint Ventures (Revised) 238 Chapter 15: Business Leagues Engaged in Joint Ventures 243 § 15.1 Overview (Revised) 243 § 15.2 The Five-Prong Test 244 § 15.3 Unrelated Business Income Tax 244 Chapter 16: Conservation Organizations in Joint Ventures 245 § 16.1 Overview 245 § 16.2 Conservation and Environmental Protection as a Charitable or Educational Purpose: Public and Private Benefit 245 § 16.3 Conservation Gifts and § 170(h) Contributions (Revised) 246 § 16.
7 Emerging Issues 264 Chapter 17: International Joint Ventures 267 § 17.5 General Grantmaking Rules 267 § 17.11 Application of Foreign Tax Treaties 268 Chapter 19: Debt Restructuring and Asset Protection Issues 271 § 19.1 Introduction (Revised) 271 § 19.2 Overview of Bankruptcy (Revised) 271 § 19.3 The Estate and the Automatic Stay (Revised) 272 § 19.4 Case Administration (Revised) 273 § 19.5 Chapter 11 Plan (Revised) 274 § 19.
6 Discharge 275 § 19.7 Special Issues: Consequences of Debt Reduction (New) 275 Index 277.