Examines and applies section 501c of the Code. Covers tax planning for charitable contributions, trusts, gifts, and bargain sales. Compares taxation of exempt organizations with for-profit entities. Prerequisite: TXX 5762.

( GMP 5762 OR TXX 5762 )

Learning Outcomes
The student will have an understanding of the impact of federal taxation on exempt organizations at every stage ¿ organization, operation, investment activities, and procedural requirements (including audits). The student would have also explored, among other subjects, the tax implications of conversion of status of Section 501(c)(3) organizations and disposition of debt-financed property.
The understanding obtained by the study of the taxation of tax-exempt organizations will deepen tax professionals¿ grasp of this aspect of the law. This knowledge will also make them informed citizens who can assess the political and economic objectives of taxation. The use of special structures, such as partnerships and joint ventures involving Section 501(c)(3) organizations, will also become apparent.
All of your professional skills will probably be underutilized or wasted if you are unable to communicate effectively, both in writing and orally. To further develop your communication skills, you will be expected to lead and/or participate in class discussion and to complete one research assignment.

By the end of this course, the student should be able to:

1) Identify the primary types of business organizations and the distinguishing characteristics of each.
2) Distinguish between non-profit and for-profit corporations and identify the requirements for recognition of tax-exemption under Internal Revenue Code Section 501(c)(3).
3) Discuss the characteristics of private foundations and explain the tax effects a determination that an organization is a private foundation.
4) Identify types of organizations that are tax-exempt under provisions other than Section 501(c)(3) and discuss the requirements for tax-exemption of such organizations.
5) Understand the requirements for obtaining recognition of tax-exemption and the steps necessary to obtain recognition of tax-exemption.
6) Define unrelated business income relative to tax-exempt organizations and identify specific situation where unrelated business income occurs.
7) Identify activities that tax-exempt organizations cannot engage in and activities that tax-exempt organizations can only undertake in a limited fashion.

1. Required Materials


1. Textbooks

Tax Exempt Organizations Cases & Materials - 2.Edition Nicolas Cafardi
Matthew Bender Publication (in association with LexisNexis)
ISBN: 9781422417546

Notes: Textbooks may be purchased from the NSU Bookstore by calling 1-800-509-2665 or online at www.nsubooks.bkstore.com.


APA Manual
Effective October 1^st 2009, the 6th edition of the APA Manual is required for all courses.

NSU Bookstore
Textbooks and Case Studies may be purchased from the NSU Bookstore (located in the University Park Plaza) by calling 1-800-509-2665 or online at http://www.nsubooks.bkstore.com.



2. Recommended Materials

Taxation of Exempt Organizations, 2008 (ISBN 9870791368602)

Exempt Organizations, IRS Technical Instruction Program for Fiscal Year 2002, CCH - 2002 (ISBN 0-8080-0768-8).

The NSU libraries comprise the Alvin Sherman Library, Research, and Information Technology Center, East Campus Branch Library, Health Professions Division Library, Law Library and Technology Center, North Miami Beach Branch Library, University School Library Media Centers, and the William S. Richardson Ocean Science Library. Students are strongly encouraged to visit one of the physical locations and/or take advantage of the vast electronic library available for research. For more information, please visit http://www.nova.edu/library.

Please note that all required and recommended materials should be referenced in APA style.