Carmody & Torrance’s strong business and litigation practices support our tax-exempt clients in all their endeavors. These clients face the same challenges as our for-profit clients. We assist hospitals, schools, museums, social service organizations and trade groups with the formation of tax-exempt and nonstock organizations and applications for tax-exempt status and issues regarding private foundation/public charity status. We also assist with governance issues, including conflict of interest policies, intermediate sanctions, executive compensation and director and officer liability. We provide advice regarding unrelated business income tax and business combinations, including joint ventures, mergers, reorganizations, dissolutions and affiliations. We are also experienced in all aspects of tax-exempt financing, such as CHEFA bond issuances, planned giving programs, management of endowment funds and investments.
Recent engagements include:
- Advise industry association on the reorganization of Massachusetts and Connecticut entities
- Represent borrowers in a multi-borrower tax-exempt financing for child care centers
- Advise a community foundation on governance matters
- Advise a preparatory school on executive compensation
- Represent a local tax-exempt entity in its spin-off from a national organization