Title Date Authors Type Download
Recent Massachusetts Supreme Judicial Court Decisions Clarify Several Uncertainties in Chapter 40B Comprehensive Permitting for Affordable Housing Jul 17, 2008 Adam P. Kahn, Tad Heuer Alert

Environmental and Land Use Alert - July 17, 2008

SUMMARY

Three recent Massachusetts Supreme Judicial Court (“SJC”) decisions have clarified two areas of uncertainty relative to the Massachusetts Comprehensive Permit Statute, Mass. Gen. Laws Chapter 40B. The SJC has provided much-needed guidance as to (1) when municipalities can challenge Subsidized Housing Inventory (SHI) calculations, and (2) when developers are entitled to challenge comprehensive permit conditions. These decisions are of importance to anyone involved in the development, financing, or permitting of affordable housing projects in Massachusetts.

In two related cases decided on May 27, 2008, the SJC ruled that a municipality must exhaust its administrative remedies before bringing a court action contesting the Department of Housing and Community Development (DHCD)’s calculation of the municipality’s SHI. In the third case, decided on June 10, 2008, the SJC ruled that developers cannot successfully challenge conditions attached by local zoning boards to comprehensive permits unless they can demonstrate that those conditions render the proposed project uneconomic.

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The Foley Hoag Foundation 2007 Annual Report Jun 3, 2008 eBook Download

SUMMARY

Established in December 1980 by the partners of law firm Foley Hoag, The Foley Hoag Foundation is a private foundation that seeks to combat racism, especially among youth, in the City of Boston. The Foundation awards grants to organizations working to improve the racial climate in Boston by addressing issues of diversity and racism. Grantee organizations achieve their goals through a variety of means, including arts and cultural activities, youth leadership and recreational programs. Other grantees provide advocacy assistance, enabling individuals to confront racism through legal or political action. Some grantee organizations work to prepare young children to live in the reality of a multicultural society, others engage teens, and a few target a primarily adult constituency.

The Foley Hoag Foundation was the first—and remains the only— foundation to focus exclusively on the improvement of race relations in Boston. The trustees are fortunate to have the unqualified endorsement of Foley Hoag, which has provided an enormous amount of financial, administrative and moral support.

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New IRS Annual Information Return Required for Small Tax-Exempt Organizations – Form 990-N (e-Postcard) May 1, 2008 Sharon C. Lincoln, Shirin Philipp Alert

Nonprofit Alert - May 1, 2008

SUMMARY

Until now, most small tax-exempt organizations, defined as those with gross receipts of $25,000 or less per year, have not been required to file an annual information return with the Internal Revenue Service (the “IRS”). 

However, small tax-exempt organizations must now file an annual electronic information return – the Form 990-N, also known as the e-Postcard. This requirement covers all tax periods beginning after December 31, 2006. The e-Postcard must be filed no later than the 15th day of the 5th month following the end of the organization’s tax year. For example, an organization whose tax year ends December 31 must submit the e-Postcard by the following May 15.

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Tax and Benefits Alert - November 20, 2007 Nov 20, 2007 James T. Montgomery, Jr. Alert

I.R.S. Issues Annual Cost-of-living Adjustments Applicable in 2008

SUMMARY

The I.R.S. recently issued its annual cost-of-living adjustments applicable in 2008 to qualified retirement (pension, profit-sharing, § 401(k), money purchase and stock bonus) plans.

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Ten Commandments: Prudent Activities for the Board of Directors of a Not-For-Profit Corporation Aug 14, 2007 Richard Schaul-Yoder, Shirin Philipp eBook Download

SUMMARY

The directors of a not-for-profit corporation are bound by two general types of legal duties:

A duty of care

The duty to perform their responsibilities in good faith, in a manner reasonably believed to be in the best interest of the corporation, and with such care as an ordinarily prudent person would be in similar circumstances; and

A duty of loyalty

The duty to keep the interests of the corporation paramount above personal interests when acting for or on behalf of the corporation.

The following Ten Commandments provide examples of some of the actions a board of directors should take to act in accordance with its legal duties... (continues)

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Doing Business in Massachusetts Aug 14, 2007 Arlene L. Bender, Michael N. Glanz eBook Download

A Guide to U.S. and Massachusetts Law for Non-U.S. Businesses

SUMMARY

This guide is intended to provide foreign businesspeople with an introduction to the basic kinds of laws and regulations that affect the conduct of business in the United States, and particularly in the Commonwealth of Massachusetts. The level of detail is varied, reflecting the nature of the legal areas discussed. For example, environmental law and taxation are subjects of detailed and technical regulation, while labor relations are governed as much by custom and practice as by direct regulation.

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Nonprofit Update - May 1, 2006 May 1, 2006 Shirin Philipp Update Download

Massachusetts Subjects Nonprofits to Unrelated Business Income Tax; First Estimated Payments due June 15, 2006

SUMMARY

Governor Romney recently signed a new law that subjects nonprofit corporations for the first time to Massachusetts tax on their unrelated business income. Until now, nonprofit corporations exempt from federal income tax under section 501 of the Internal Revenue Code enjoyed blanket exemption from the Massachusetts corporation excise, even for income subject to the federal unrelated business income tax.

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Sarbanes-Oxley Mar 1, 2006 Richard A. Wiley General Download

Does It Really Apply to Non-Profit and Private Corporations?

SUMMARY

The 2002 Sarbanes-Oxley legislation adopted a series of provisions intended to help protect against the corporate governance abuses of the turn of the century, as exemplified by Enron and WorldCom. Those provisions include: (a) Section 201 – Auditor Independence requirements; (b) Section 301 – Audit Committee qualifications; (c) Section 302 – CEO/CFO Certified Quarterly Reports; (d) Section 404 – Management Assessment of Internal Controls; and (e) Section 406 – Code of Ethics for Senior Financial Officers.

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Win Some, Lose Some Oct 25, 2004 Richard Schaul-Yoder General Download

New tax act takes billions and returns billions to American business

SUMMARY

Last Friday, President George W. Bush signed into law the American Jobs Creation Act of 2004. The centerpiece of the legislation is the repeal of the extraterritorial income exclusion tax incentive for U.S. exporters. The extraterritorial income exclusion was the most recent U.S. tax incentive to be declared an illegal export subsidy by the World Trade Organization at the urging of the Western European governments.

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