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Tag: Nonprofits

Posted March 25, 2020 with Tags ,

Can Nonprofits Use Their Endowment Funds to Assist Communities in the wake of COVID-19?

As the COVID-19 pandemic continues to impact all corners of life both locally and nationally, we have received questions from our nonprofit clients regarding the use of their endowment funds to help support their targeted communities.  In addition to a quick review of Minnesota’s endowment fund law, we provide some action items to consider when faced with these spending decisions.

Posted March 17, 2020 with Tags ,

Minnesota Nonprofits and COVID-19: Special Considerations for Unemployment Insurance

With Emergency Executive Order 20-05, Minnesota Governor Walz provided much-needed relief to Minnesota employers and employees facing immediate loss of work because of COVID-19. The March 16th Order waives the one-week waiting period before individuals can be considered eligible for unemployment and relaxes otherwise strict requirements to maximize the chances that unemployed and underemployed workers receive benefits quickly

Newsroom image for the post 501(r) Audits Are Here: What You Need to Know

Posted May 31, 2017 with Tags , , , ,

501(r) Audits Are Here: What You Need to Know

The Affordable Care Act imposed new requirements on tax-exempt hospitals under Section 501(r) of the Internal Revenue Code. Section 501(r) and its implementing regulations present a complex framework intended to promote “charitable” behavior by tax-exempt hospitals. By way of example, 501(r) requires a hospital to assess and address community health needs and to adopt billing and collection practices aimed at ensuring that patients who have a limited ability to pay for care are treated fairly.

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