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In this Part, I will analyze two cases demonstrating the application of and distinctions between the private inurement and private benefit doctrines.
Donors do not expect any direct economic return and are precluded from otherwise profiting from a nonprofit organization by the private inurement doctrine.
By implementing these protections, the IDS structure helps to minimize private inurement and private benefit concerns as well as Stark concerns.
But a diversion may constitute an inurement of the organization's net earnings and may be an excess benefit transaction taxable under IRC section 4958 and reportable on Schedule L.
D, the legal requirements contained in [section][section] 170(c) and 501(c)(3) in effect forego determining eligibility based on the worthiness of an organization's activities; instead they focus on procedural rules such as the private inurement doctrine.
Really, it was pretty isolated on the facts of that case, I don't think it had broad implications other than one point: it's an arm's length negotiation, not tainted by private inurement or private benefit, if both parties believe they were negotiating in their best interest," Canter said.
Trap: IRS officials pay close attention to inurement because they got beat up in congressional hearings for not revoking exemptions for real or perceived abuses.
The valuation of equity-based compensation may be a particularly important planning issue for not-for-profit clients that must be concerned with excess benefit, private inurement, and related regulatory issues.
However, payments made at below-market value from taxable or noncharitable entities to charitable entities are inherently instances of private inurement and can subject organizations to the risk of sanction, including loss of exemption for the charitable organization.
The IRS has developed extensive rules against private inurement and private benefit transactions and is empowered to impose harsh financial penalties against individuals and management and, in situations involving egregious violations, to revoke the charity's tax exempt status entirely.
Technically, any inurement, regardless of amount, can trigger the loss of exempt status.
Inurement will be at Mount Calvary Cemetery in Eugene.