Kelcie Longaker, Special Counsel at Adelberg, taught a Continuing Legal Education (CLE) course this afternoon on the topic of Charitable LLC’s. Charitable LLC’s provide certain structural flexibility that a traditional foundation does not enjoy. The Charitable LLC allows for the owner to directly control the investment of funds, and take greater risks in those investments. This program discussed recent IRS guidance on Charitable LLC’s, and the taxation issues that arise out of this novel approach to giving. The program outlines the pros and cons of different corporate structures for charitable purposes, and the operational challenges faced by a Charitable LLC. This course was co-sponsored by the Federal Bar Association.
Key topics are as follows:
• Recent IRS Guidance
• LLCs vs. Private Foundations vs. DAFs vs. 501(c)(3) Organizations
• Control and Flexibility in the Charitable LLC
• Charitable Taxation Issues
• Formation of the Charitable LLC
• Drafting the Charitable LLC Articles of Organization and Operating Agreement
• Charitable LLC Operational Pitfalls
About myLawCLE: Continuing Legal Education (CLE) classes spotlight unique topics, presented live, in-person, and on-demand across a wide range of practice areas.