Episodes

  • 127: REFRESH Document Retention Policies and Subpoenas: A Conversation on Why Good Policies Matter

    127: REFRESH Document Retention Policies and Subpoenas: A Conversation on Why Good Policies Matter
    Jun 23 2025

    Welcome to EO Radio Show – Your Nonprofit Legal Resource. I'm Cynthia Rowland, and this is episode 127 of EO Radio Show. Episode 127 is a "refresh" of our episode 13, first released on August 29th, 2022, which covered record retention policies, document destruction schedules, and why they matter.

    Many nonprofits today have heightened concerns about legal actions, investigations by the IRS or congressional committees, as well as lawsuits, and are proactively reviewing their document management systems and policies. Regardless of these current concerns, many nonprofit leaders are or should be aware that the IRS Form 990, which is the information return for nonprofit organizations, specifically asks the filing organization if it has a document retention policy. While there is no penalty imposed by the Internal Revenue Code for not having a document retention policy, not only is it good form to be able to indicate "Yes" on Form 990, but also having a formal written retention policy is a best practice.

    In the original 2022 episode, my former partner, Aviva Gilbert, joined me to provide a real-world perspective on how a document retention policy plays out in practice when a nonprofit faces an investigation or is subject to a document request involving other outside parties. Her comments are as helpful today as they were in 2022.

    Show Notes:

    Cynthia Rowland, Podcast Host, Partner, Farella Braun + Martel

    Aviva Gilbert LinkedIn Bio

    Farella Nonprofit Educations Series Webinar: Investigations, Audits, Subpoenas, Oh My!

    IRS Form 990

    Farella YouTube podcast channel

    If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com. Additional episodes can be found at EORadioShowByFarella.com.

    DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.
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    27 mins
  • 126: Insights on Planned Giving from the BNY Annual Charitable Giving Report for 2024

    126: Insights on Planned Giving from the BNY Annual Charitable Giving Report for 2024
    Jun 16 2025

    Welcome to EO Radio Show – Your Nonprofit Legal Resource. In today's episode, Cynthia Rowland is joined by David Ogburn, a senior client strategist with BNY Wealth. David will talk about the recently released BNY Annual Charitable Gift Report covering 2024. He will present the highlights from the annual report and share insights, best practices, and actionable strategy recommendations for planned giving success. This episode will be of particular interest to the charity executive leadership and board leadership alike.

    Show Notes:

    Cynthia Rowland, Podcast Host, Partner, Farella Braun + Martel

    David Ogburn, Senior Client Strategist, BNY Wealth

    BNY Wealth Annual Charitable Gift Report

    EO Radio Show #123: Investing Charity and Foundation Assets in Turbulent Times With Jennifer Nelson

    EO Radio Show YouTube Playlists: Private Foundations

    If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com. Additional episodes can be found at EORadioShowByFarella.com.

    DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.
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    32 mins
  • 125: Nonprofit Quick Tip: State Filings in Maryland and Pennsylvania

    125: Nonprofit Quick Tip: State Filings in Maryland and Pennsylvania
    Jun 9 2025
    Welcome to EO Radio Show – Your Nonprofit Legal Resource. I'm Cynthia Rowland, and this is the 21st in a series of quick tip episodes, focusing on the details of state registration of non-profit corporations. With the help of Joe Hilliard today, we look at the basic state filing requirements for non-profit corporations in Maryland and Pennsylvania. In previous episodes, we discussed filing in Delaware and California, which are the most frequently used by our clients, most of whom have a connection to California. Other episodes have focused on a long list of states. These include Nevada, Arizona, Washington State, Oregon, Alaska, Hawaii, New York, New Jersey, Massachusetts, Connecticut, Maine, Vermont, Rhode Island, and New Hampshire, Florida, Louisiana, North and South Carolina, Kentucky, Tennessee, Oklahoma, Texas, New Mexico, Utah, Colorado, Wyoming, Washington, D.C, Michigan, Ohio, Illinois, Indiana, Wisconsin, Minnesota, north and South Dakota, and the Virginia. If you didn't hear your state in that list and you're not in Maryland or Pennsylvania, don't worry. We'll get to the rest of them in short order. You can find all the prior episodes on our website or at the Farella YouTube channel, where there's a playlist just for the state filing requirement episodes. Show Notes: Farella YouTube podcast channel For Maryland: Maryland Business Express Home Page: https://egov.maryland.gov/BusinessExpress/ Maryland Current Entity Search: https://egov.maryland.gov/businessexpress/entitysearch Maryland Secretary of State Nonprofit overview and FAQ: https://sos.maryland.gov/Charity/pages/non-profit-organization.aspx Maryland Business Filings FAQ: https://egov.maryland.gov/BusinessExpress/Home/faq Maryland Fees Schedule: https://egov.maryland.gov/BusinessExpress/Payment/FeesSchedule Maryland Forms index: https://dat.maryland.gov/Pages/sdatforms.aspx Maryland Articles of Incorporation for a Tax-Exempt Nonstock Corporation: https://dat.maryland.gov/SDAT%20Forms/ex_corp_form.pdf Maryland Foreign Corporation Qualification: https://dat.maryland.gov/SDAT%20Forms/forcp.pdf Maryland Processing Time FAQ: https://egov.maryland.gov/BusinessExpress/Home/ProcessingTimes Maryland Annual Report Filing FAQ 2025: https://dat.maryland.gov/SDAT%20Forms/PPR_Forms/2025_Form1_Instructions.pdf Maryland Annual Report 2025: https://dat.maryland.gov/SDAT%20Forms/PPR_Forms/2025_Form1.pdf Maryland Secretary of State Charitable Organizations forms: https://sos.maryland.gov/Pages/Forms.aspx Maryland Comptroller Nonprofit FAQ: https://interactive.marylandtaxes.gov/webapps/comptrollercra/entrance.asp Maryland Comptroller online portal: https://services.marylandcomptroller.gov/taxes/en/new-maryland-tax-connect-portal-information?id=kb_article_view&sysparm_article=KB0010001 Maryland Department of Assessments and Taxation Portal: https://dat.maryland.gov/Pages/sdatforms.aspx For Pennsylvania: Pennsylvania Department of State Business Home Page: https://file.dos.pa.gov/ Pennsylvania Department of State current entity database: https://file.dos.pa.gov/search/business Pennsylvania Fees and Payments Page: https://www.pa.gov/agencies/dos/programs/business/fees-and-payments.html Pennsylvania online filing Forms Page: https://file.dos.pa.gov/forms/business Pennsylvania Business Filings FAQ: https://www.pa.gov/agencies/dos/resources/business-resources/frequently-asked-questions.html Pennsylvania Annual Report FAQ: https://www.pa.gov/agencies/dos/programs/business/types-of-filings-and-registrations/annual-reports.html Pennsylvania Department of State's Bureau of Corporations and Charitable Organizations Register a Charity Home Page: https://www.pa.gov/services/dos/register-a-charity.html Pennsylvania Department of State's Bureau of Corporations and Charitable Organizations Information for Charitable Organizations: https://www.pa.gov/agencies/dos/programs/charities/information-for-charities/-charitable-organizations.html Pennsylvania Department of Revenue Application for Non-Profit Sales Tax Exemption FAQ: https://www.pa.gov/services/revenue/apply-for-non--profit-sales-tax-exemption.html If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com. Additional episodes can be found at EORadioShowByFarella.com. DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.
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    24 mins
  • 124: REFRESH Five Tax Traps for Business Lawyers Advising Nonprofit Organizations

    124: REFRESH Five Tax Traps for Business Lawyers Advising Nonprofit Organizations
    Jun 2 2025
    Welcome to EO Radio Show – Your Nonprofit Legal Resource. Many nonprofits today are worried about recent federal actions that may bring governmental scrutiny to their stated charitable mission and activities, such as audits, congressional investigations, and even threats to their status as charities described in Internal Revenue Code Section 501(c)(3). The best advice for many of those organizations is to start with a thorough review of their compliance with all federal tax laws, with the assistance of legal counsel. For many organizations, there simply isn't room in their budget to engage a specialist lawyer with expertise in these areas, so they look to friends and family for a lawyer willing to assist pro bono. This episode is for those wonderful lawyers who are willing to lend a hand but need to come up to speed quickly on the traps for the unwary in this field. This refreshed episode first dropped in October of 2022. Listeners who want more information along these lines can take a look at the show notes for links to other episodes of the show that take a closer look at these traps. Show Notes: EO Radio Show #84: Nonprofit Book Review: ABA Guidebook for Directors of Nonprofit Corporations EO Radio Show #107: Nonprofit Basics: Unrelated Business Income Tax: Basic Rules for Charities - Part 1 EO Radio Show #108: Nonprofit Basics: Unrelated Business Income Tax: Modifications and Exceptions - Part 2 EO Radio Show #109: Nonprofit Basics: Unrelated Business Income Tax: Debt Financed Income - Part 3 EO Radio Show YouTube Playlist: Nonprofit Basics IRS Form 990 and Schedules A through R: https://www.irs.gov/forms-pubs/about-form-990 IRS Form 990 EZ https://www.irs.gov/forms-pubs/about-form-990-ez IRS Form 990-N https://www.irs.gov/charities-non-profits/annual-electronic-filing-requirement-for-small-exempt-organizations-form-990-n-e-postcard Description of Statutory Employees https://www.irs.gov/charities-non-profits/exempt-organizations-who-is-a-statutory-employee EO Radio Show #6: Nonprofit Basics: Election Year Issues for Private Foundations and Public Charities Part 1: Candidate Campaign Intervention EO Radio Show #7: Nonprofit Basics: Election Year Issues for Private Foundations and Public Charities Part 2: Legislative Lobbying Activities by Public Charities EO Radio Show #8: Nonprofit Basics: Election Year Issues for Private Foundations and Public Charities Part 3: Private Foundation Approaches to Policy Advocacy Allowed by the Internal Revenue Code If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com. Additional episodes can be found at EORadioShowByFarella.com. DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.
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    22 mins
  • 123: Investing Charity and Foundation Assets in Turbulent Times With Jennifer Nelson

    123: Investing Charity and Foundation Assets in Turbulent Times With Jennifer Nelson
    May 19 2025

    Welcome to EO Radio Show – Your Nonprofit Legal Resource. I'm Cynthia Rowland, and this is episode 123 of EO Radio Show. In today's episode, I welcome back Jennifer Nelson, a Senior Wealth Manager with BNY Mellon. Jennifer and I recorded this episode on Friday, May 9, 2025, and this episode posts on Monday, May 19. The investment world looks quite a bit different today than it did in May of 2024 when Jennifer and I recorded a general investment policy planning episode—and it's even a bit different than just 10 days ago, with the public securities markets continuing to swing up and down, but not quite as dramatically as in early April.

    When we recorded 10 days ago, Jennifer remarked on the state of the market volatility at the time. While this past week has been a bit calmer, we’ve also seen new surprises. A major new tax bill came out of Congress, with some potentially dramatic tax implications for foundation endowments—another new factor for investment committees to take into account. And more international talks and agreements developed, with the on-again, off-again tariffs and perhaps stabilizing international agreements on the horizon. Jennifer’s remarks provide insights for investment committees and board members during these turbulent times. I hope you’ll find some useful tips in today’s episode.

    Show Notes:

    Cynthia Rowland, Podcast Host, Partner, Farella Braun + Martel

    Jennifer Nelson, CFP, Senior Wealth Manasger, BNY Mellon Wealth Management

    BNY Mellon Wealth Management Insights

    EO Radio Show YouTube Playlists: Nonprofit Basics, Nonprofit Governance, Hot Topics

    Prudent Management of Institutional Funds Act

    “UPMIFA, Three Years Later: What’s a Prudent Director To Do?” ABA Business Law Today, Volume 18 No. 6 (July/August 2009), Cynthia R. Rowland

    EO Radio Show EP #16: Basics of Impact Investing: A Conversation About Investment Policies and Evaluation Metrics For ESG Investors

    EO Radio Show #35: Hot Topic: UPMIFA in the Context of Financial System Instability

    Farella YouTube podcast channel

    If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com. Additional episodes can be found at EORadioShowByFarella.com.

    DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.
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    25 mins
  • 122: REFRESH Nonprofit Basics: Federal Tax Filing Deadlines and Penalties

    122: REFRESH Nonprofit Basics: Federal Tax Filing Deadlines and Penalties
    May 12 2025

    Welcome to EO Radio Show – Your Nonprofit Legal Resource. I'm Cynthia Roland, and this is episode 122 of EO Radio Show. This episode on federal tax filing deadlines and penalties was first released in May of 2023. It focuses on the importance of meeting the federal tax filing deadlines that apply to charitable organizations. Most charities exempt from income tax are required to file a federal information return on the 15th day of the fifth month after the close of their fiscal year. For nonprofits that use the calendar year for accounting purposes, that's May 15th. If you haven't filed yet, don't despair. You've got a little bit of time. In this episode, I'll also touch on the penalties that can apply if your organization fails to meet these filing requirement deadlines. So listen in for more information about this important topic.

    Show Notes:

    Form 990, Return of Organization Exempt from Income Tax

    Form 990-EZ, Short Form Return of Organization Exempt from Income Tax

    See Filing Phase-In for more information about which return to file

    Form 990-N (e-Postcard), Annual Electronic Filing Requirement for Small Exempt Organizations

    Form 8868

    Tax Relief in Disaster Situations

    Disaster Assistance and Emergency Relief for Individuals and Businesses

    Revenue Procedure 2014-11 explains the four procedures an organization may use to apply for reinstatement

    If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com. Additional episodes can be found at EORadioShowByFarella.com.

    DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.
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    11 mins
  • 121: Insider Transaction Traps for the Unwary

    121: Insider Transaction Traps for the Unwary
    May 5 2025

    Welcome to EO Radio Show - Your Nonprofit Legal Resource. I'm Cynthia Rowland, and today I'm joined by David Sacarelos, a principal at Baker Tilly. We do a deep dive into the penalties under the Internal Revenue Code sections that apply to insider transactions involving private foundations. Using a recently issued IRS Chief Counsel memorandum, we look at the circumstances of loans by a private foundation that led to significant penalties for indirect self-dealing and jeopardizing investments.

    Show Notes:

    Cynthia Rowland, Podcast Host, Partner, Farella Braun + Martel

    David M. Sacarelos, CPA, CGMA, Principal, Baker Tilly US, LLP

    Chief Counsel Memo 202504014

    IRS Form 4720

    EO Radio Show #117: REFRESH Nonprofit Basics: Insider Transactions and Nonprofits

    Farella YouTube podcast channel

    Clarifying Notes:

    (17:06) The $20,000 maximum first-tier tax imposed on foundation managers is not indexed for inflation.

    (20:59) Per Rev. Ruling 78-76, a private foundation trustee was determined to have participated in a self-dealing transaction both as a disqualified person and as a foundation manager. Consequently, he was found liable for both the tax imposed on self-dealing under IRC Sec. 4941(a) and the tax imposed on foundation managers under IRC Sec. 4941(a)(2). Depending on the facts and circumstances, it is possible to be taxed both as foundation manager and as a disqualified person.

    If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com. Additional episodes can be found at EORadioShowByFarella.com.

    DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.
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    30 mins
  • 120: Nonprofit Quick Tip: State Filings in Virginia and West Virginia

    120: Nonprofit Quick Tip: State Filings in Virginia and West Virginia
    Apr 28 2025
    Welcome to EO Radio Show - Your Nonprofit Legal Resource. I'm Cynthia Rowland, and EO Radio Show episode 120 is the 20th episode in a series of quick tips episodes focusing on the details of state registration of nonprofit corporations. With the help of Joe Hilliard, we look at the basic state filing requirements for nonprofit corporations operating in Virginia and West Virginia. In previous episodes, we talked about filing in Delaware and California, which are the most frequently used by our clients, most of whom have a connection to California. Other episodes have focused on state filings in Nevada, Arizona, Washington State, Oregon, Alaska, Hawaii, New York and New Jersey, Massachusetts, Connecticut, Maine, Vermont, Rhode Island and New Hampshire, Florida and Louisiana, North Carolina and South Carolina, Kentucky, Tennessee, Oklahoma, Texas, New Mexico, Utah, Colorado, Wyoming, Washington, D.C., Michigan, Ohio, Illinois, and Indiana. We've also discussed Wisconsin, Minnesota, North Dakota, and South Dakota. You can find all previous episodes on our website or the Farella YouTube channel, where a playlist specifically dedicated to state filing requirements is available. We'll work our way through the rest of the states in future episodes. Show Notes: Farella YouTube podcast channel Virginia: Virginia State Corporation Commission Business Services Home Page: https://www.scc.virginia.gov/businesses/ Virginia Current Entity Search: https://cis.scc.virginia.gov/EntitySearch/Index Virginia Nonstock Corporation Forms and Fees FAQ: https://www.scc.virginia.gov/businesses/forms-and-fees/virginia-nonstock-corporations/ Virginia Articles of Incorporation for a Virginia Nonstock Corporation: https://www.scc.virginia.gov/media/sccvirginiagov-home/business-home/start-a-new-business/business-types/scc819.pdf Virginia Nonstock Guide (PDF): https://www.scc.virginia.gov/media/sccvirginiagov-home/business-home/forms-and-fees/virginia-nonstock-corporations/nptoolkit-(1).pdf Virginia Expedited Fees FAQ: https://www.scc.virginia.gov/businesses/about-the-clerks-office/expedited-services/ Virginia Annual Report Filing FAQ: https://www.scc.virginia.gov/businesses/business-faqs/clerks-annual-reports/ Virginia Annual Registration Filing FAQ: https://www.scc.virginia.gov/businesses/business-faqs/annual-registration-fees/ Virginia Department of Agricultural and Consumer Services Charitable Organizations website: https://www.vdacs.virginia.gov/food-charitable-solicitation.shtml Virginia Department of Agricultural and Consumer Services Charitable Organizations FAQ: https://www.vdacs.virginia.gov/pdf/charitablesolicitationsfaqs.pdf Virginia Department of Taxation Nonprofit Organizations FAQ: https://www.tax.virginia.gov/nonprofit-organizations Virginia Department of Taxation Application Portal: https://www.npo.tax.virginia.gov/VTOL_External_Entity/NPOLogin.xhtml West Virginia: West Virginia Secretary of State Business Division Home Page: https://sos.wv.gov/business/Pages/default.aspx West Virginia Secretary of State's current entity database: https://apps.wv.gov/sos/businessentitysearch/ West Virginia Secretary of State Forms Page: https://sos.wv.gov/Forms/Pages/default.aspx West Virginia Nonprofit Articles of Incorporation: https://sos.wv.gov/FormSearch/Business/Corporation/cd-1np.pdf West Virginia Out-of-State Registration FAQ: https://sos.wv.gov/business/Pages/RegOutStateBus.aspx West Virginia Foreign Application for Certificate of Authority: https://sos.wv.gov/FormSearch/Business/Corporation/cf-1.pdf West Virginia Secretary of State Expedite Services FAQ: https://sos.wv.gov/business/Pages/ExpediteService.aspx West Virginia Annual Report FAQ: https://business4.wv.gov/operatemybusiness/Pages/Annual-Reporting.aspx West Virginia Secretary of State Charitable Organizations Home Page: https://sos.wv.gov/business/Pages/Charities.aspx West Virginia Secretary of State Charitable Organizations FAQ: https://sos.wv.gov/business/Pages/CharityFAQ.aspx West Virginia Tax Division Home Page: https://tax.wv.gov/Business/SalesAndUseTax/Pages/SalesAndUseTax.aspx West Virginia Tax Division Nonprofit Tax Exemption FAQ: https://tax.wv.gov/documents/tsd/tsd320.pdf West Virginia Nonprofit Association index of helpful websites: https://wvnpa.org/starting-a-nonprofit/ West Virginia Nonprofit Association Checklist: https://wvnpa.org/content/uploads/nonprofit-start-up-checklist-a.pdf If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com. Additional episodes can be found at EORadioShowByFarella.com. DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.
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    21 mins