Praise for Joint Ventures Involving Tax-Exempt Organizations
"I have been regularly reading and relying on Mike Sanders's editions of Joint Ventures Involving Tax-Exempt Organizations since publication of the first (in 1994); the (now) four volumes stand on constant duty within close reach. His blend of scholarship and practical experience has thus informed and enhanced my law practice and writing for over twenty years. This new edition of Joint Ventures is a carefully crafted journey through joint venture law and general federal tax law for nonprofit organizations, beginning with the fundamentals, then stops to explore collateral concepts (such as the excess benefit transactions rules, tax shelter transactions rules, and the unrelated business law), culminating in the heart of the worth of this book, which is Mike's treatment of ventures involving healthcare institutions and universities, and international venturing. Even ventures concerning business leagues and conservation organizations are accorded meaningful treatment. Overall, I do not believe it is possible to have an exempt organizations law practice of any consequence without ongoing consultation of Mike Sanders's now updated book."
—Bruce R. Hopkins, senior partner, Polsinelli PC; author, The Law of Tax-Exempt Organizations, Tenth Edition
"Tax-exempt organizations, through joint ventures with for-profit and other tax-exempt entities, play a key role in affordable housing, community development, and historic preservation. Navigating the process and rules that govern exempt organizations' involvement in joint ventures can be complex, and this book provides an important look at the rules and relationships involved with low-income housing, new markets, historic rehabilitation, and other tax credit programs."
—Michael J. Novogradac, CPA, Managing Partner, Novogradac & Company LLP
"An important resource not just for those nonprofits already participating in joint ventures but just about all nonprofits. This book conveys succinctly the basic rules regulating tax exemption, explains old and brand-new opportunities for joint ventures, and includes invaluable checklists to guide both those who work in nonprofits and those outside professionals who advise them."
—Ellen P. Aprill, John E. Anderson Professor of Tax Law, Loyola Law School
"Mike Sanders's book, Joint Ventures Involving Tax-Exempt Organizations, is a critical resource for anyone who represents or manages tax-exempt organizations. Tax-exempt organizations are increasingly engaging in joint ventures (JVs) as a way to gain access to the capital markets, most often for mission-related purposes. This book takes the mystery out of the JV process and provides practical and helpful insights about the legal and business issues that confront tax-exempt entities considering the JV structure."
—Celia Roady, Morgan, Lewis & Bockius LLP
"Michael Sanders is a pro at helping structure business ventures for tax-exempt organizations. At Enterprise, we used him extensively to carry out very creative structures including numerous joint ventures that forwarded our mission, allowed us to grow rapidly and well, and greatly expanded our impact in the field of community development. This book is important for any tax-exempt organization looking to find ways to expand its impact and capacity."
—Bart Harvey, former chair and CEO, Enterprise Community Partners; former chair, Enterprise Community Investment
"Professor Sanders is to be commended for giving us an up-to-date road map of nonprofit joint ventures, covering all the IRS guidance available and placing it in context to ensure that readers understand where the guardrails and traps lie. His inclusion of the economic and regulatory changes driving healthcare organization behavior as a result of the Affordable Care Act is invaluable."
—T. J. Sullivan, Drinker Biddle & Reath LLP
