Sale of Gift Annuities Subject to Securities Fraud Rules
Philanthropy Protection Act does not exempt commissioned sellers from registration requirements

Are Not Necessarily Members
Court rules that congregants have no standing to challenge actions by members named in bylaws

Three Enjoined, Fined For False Solicitation of Charitable Gifts
Use of fictitious names for unincorporated “charities” makes individuals personally liable for misrepresentations

When Is a Contribution Not a Contribution?
By Eric Fraint, President
Your Part-Time Controller, LLC

Issues Notes

• Kramer, Emerson to talk on Form 990
• Interested in Reprinting Items from Nonprofit Issues®?
• Talk with the Editor, July 30

To the Point

Can a 501 (c)(7) nonprofit private social club sell services or products to the general public at a profit used by the  Club to contain members’ dues?

Lessons from Litigation

• Bequest of house for church officials valid
• Is profit split OK for nonprofit?

Tax Matters

• What constitutes “pecuniary profit” denying  exemption?
• Properties held for development are taxable

Employment Law

• Breakfast Mission not exempt from unemployment comp

Say That Again