Nonprofit and Charitable Giving

Nonprofit Entity

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How can a law firm support a nonprofit charity in achieving its mission effectively? The key lies in providing the same level of responsiveness and sophisticated legal advice that a for-profit corporation would demand. Many nonprofits operate on thin budgets, relying on grants and donations that fluctuate from year to year. Therefore, it's essential for a nonprofit's law firm to not only protect its legal right to advocate but also offer practical advice on various "process issues," from fundraising compliance to the oversight responsibilities of the board of trustees.

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Ironically, navigating the step-by-step process to establish a nonprofit entity with 501(c)(3) status can be more complex than forming a typical for-profit entity.

 

At our firm, The Shi Law Group, we understand the importance of providing top-notch legal services to nonprofits. We proudly represent a diverse range of nonprofit entities, including standard 501(c)(3) charities, 501(c)(4) advocacy groups, religious nonprofits, and "friends of" charities collaborating with non-governmental organizations (NGOs).

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We firmly believe in the mission of advocating for the marginalized and underserved in our society. Our dedicated team is eager to defend the legal rights of organizations committed to making a positive impact.

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Our legal services for nonprofit organizations encompass a wide range of areas, including Formation of the Nonprofit, Internal Oversight, Transactional Legal Matters, and Asserting the Nonprofit’s Legal Rights.

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Charitable Giving

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Contributing to charitable causes can be a fulfilling way to support institutions and initiatives that hold significance to you. Moreover, strategic charitable giving can offer various financial benefits, including deductions on income, capital gains, and estate taxes, along with the potential creation of a lifetime income stream for both you and your beneficiaries.

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At The Shi Law Group, we assist our clients in making charitable gifts in the most tax-efficient manner possible. Here's how we can help:

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• Charitable Remainder Trust or Charitable Gift Annuity: These options can provide an immediate income tax deduction, a steady income stream for life, and exemption from capital gains taxes on contributed property.

• Charitable Lead Trust: This arrangement generates income for a chosen charity for a specified period, after which the remaining assets can be passed on to your children without incurring estate or gift tax.

• Private Foundation: Establishing a private foundation allows you to designate and regulate how gifts are utilized by charities, granting you greater control over your philanthropic contributions.

• Donor Advised Fund: A donor-advised fund enables you to optimize your income tax savings by making periodic contributions to your preferred church or charities.

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If you're considering supporting charitable organizations in the most effective and tax-efficient manner, we encourage you to reach out to us to explore your options. We proudly assist clients across New York and New Jersey.