Rangeland Fire Protection Agencies (RFPAs) are likely not a type of nonprofit you have heard of before. RFPAs are nonprofit organizations composed of all-volunteer private citizens, typically ranchers and farmers, who respond to fires on private and state lands in remote landscapes where there is little to no existing support from federal, state, or local …
I was recently privileged with the opportunity to give a continuing legal education lecture with LawPro CLE on the topic of benefit entities, specifically the Benefit Corporation, the Social Purpose Corporation, and the L3C (or low profit limited liability company). A small portion of that lecture reviewed benefit entities across the 50 states, and there …
Benefit Entity Legislative Landscape as of August 2017 Read More »
Every year, the Seattle Foundation markets and supplies the platform for a day of giving called “GiveBIG.” Using its own powerful donor base as a foundation, the Seattle Foundation encourages many donors to give $1 for $1 matching gifts to local nonprofit organizations. This matching system inspires philanthropy, and in many cases ensures that the minimum …
By Amy Riedel Back in October, I introduced the new crowdfunding laws as another vehicle for corporate fundraising in Washington. I subsequently attended a continuing legal education class that brought regulators and attorneys together to discuss the new laws now that had become effective. Many of the attorneys attending the event raised the same concerns …
A Check-In on Crowd Fundraising in Washington State Read More »
In the past, I’ve explained the difference between being B-Corp certified and forming a business entity like a benefit corporation or, in Washington State, a Social Purpose Corporation (“SPC”). An SPC is a specific type of Washington corporation that permits management (officers and directors) to consider social purposes in addition to their financial bottom line. …
By Ken Strocsher In this four-part series we’re discussing how to increase the value of your company by better quantifying and protecting your company’s intangible intellectual property. Of the areas covered in this series, patents are arguably the most complex to understand and most challenging to obtain. That being said, patents can serve as the …
Making Your Intangibles, Tangible. Part 4: Patents Read More »
By Amy Riedel Once a growing startup begins to take on employees and advisors, one of its first considerations is incentivizing key team members or key advisers with equity. Often, these are awards in the form of options or grants. A stock option gives the holder the ability to buy stock at an agreed …
Securities Exemptions for Employee Stock Options (Rule 701) Read More »
By Amy W. Riedel As many of you may know, Washington State’s governor, Jay Inslee, signed the Washington State Jobs Act on March 28, 2014. Our very own Peter J. Smith blogged about this development last spring. By enabling crowdfunding on the state level, Washington State is providing a more immediate solution for entrepreneurs and …
Equity Crowdfunding in Washington: The New Frontier in Venture Capital? Read More »
Despite the IRS’s best efforts to inform the public, many tax-exempt organizations fail to file their annual informational return (examples here). While failing to file for a single year may trigger late fee penalties, the real threat is that if an organization fails to file their 990 for three consecutive tax years, they AUTOMATICALLY lose …
Tax-exempt organizations – Be sure to file your 990 informational return! Read More »
Effective July 1, 2014, the IRS implemented a new, streamlined application process for smaller organizations seeking tax-exempt status as under IRC section 501(c)(3) . Replacing the old, longer Form 1023, the new, shorter, and electronic Form 1023-EZ is the IRS’s solution to reduce the existing backlog of applications for tax-exemption. Although this will not affect …