Court Allows Creditor to Pursue Piercing Corporate Veil Against Officer
Successor organization is not liable, but conflicting evidence gives grounds to avoid summary judgment

Breach of Fiduciary Duty Claims
Allegation of improper dismissal gives standing to challenge expulsion, waste and secret profits

CRT Donors Can’t Rescind Trust For Concealment of Trustee’s Background
Bank’s support of Nazi regime during WWII is no basis to rescind trust to benefit Jewish community

Ready Reference Page No. 105
Final 403(b) Regulations Will Require Changes By End of Year
All plans must have a written plan document but will not necessarily be subject to ERISA

Issues Notes

• Kramer, Emerson to talk on new Form 990 for ALI-ABA
• Thursday with the Editor, June 12

To the Point

Our nonprofit tax-exempt organization has been operating well under the $25,000 annual revenue threshold that I understand exempts our group from the requirement to file a Form 990 tax information return with the IRS.  I believe I recently read that that exclusion no longer applies.  Can you summarize the present requirements for filing a return?

Lessons from Litigation

• Improperly passed assessment procedure is void
• Contract for will in return for hiding assets is illegal

Tax Matters

• IRS can’t retroactively revoke (c)(4) exemption
• Historical Society gets no break on tax value
• Religious broadcaster denied real estate exemption

Employment Law

• Action based on association with a person of another race may be discriminatory
• Board members covered by arbitration provision
• Discrimination complaint not constitutionally protected

Say That Again