This course book gives you what you need to know about the legal requirements for operating a land trust and cover the issue of tax exemption, including the major requirements for maintaining charitable tax-exempt status and an overview of IRS Form 990.
This book addresses Standard 2 of Land Trust Standards and Practices, which requires all land trusts to comply with applicable laws. It is designed to familiarize land trust staff and board members with the types of laws and regulations typically applicable to nonprofit, tax-exempt organizations working in land protection.
The three chapters of this book include information on:
This course is both for those interested in creating a land trust and for those associated with existing land trusts. For those who have not yet formally established an independent organization, the course provides an outline of the issues involved in launching a land trust, as well as alternatives to consider and discuss with local advisors as you consider this decision.
- Incorporating as a nonprofit organization and maintaining that status in good standing
- Obtaining and maintaining tax-exempt status
- Complying with all of the other laws that apply to land trusts as small businesses in their communities
The course will also be helpful to staff and board members of existing land trusts, particularly those who are less experienced with the laws governing nonprofit, tax-exempt organizations.
Standards & Practices