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Investment Activities Could Trigger Taxes for Nonprofits by Jonathan R. Flora
Schnader Harrison Segal & Lewis LLP - Philadelphia Office
Morgen Cheshire
Schnader Harrison Segal & Lewis LLP - Philadelphia Office
Marla K. Conley
Schnader Harrison Segal & Lewis LLP - Philadelphia Office
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September 30, 2009
Previously published on September 2009
Investment activities that are common for most taxpayers may create complications for taxexempt entities. The United States Court of Federal Claims recently determined that two charitable trusts were liable for income taxes on profits derived from securities they purchased on margin. The Henry E. and Nancy Horton Bartels Trust v. United States, 104 AFTR 2d 2009-5117 (Fed. Cl. 2009). The decision reinforces the need for exempt organizations to carefully consider the tax implications of their financial management.
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