Nonprofit Organizations Committee: Conference Call On October 21

The Nonprofit Organizations Committee is pleased to announce our upcoming presentation:

An Overview: Use of New Markets Tax Credits for Your Organization: A Tool for Equity and Low-Interest Loans for Expansion and/or for Working Capital
October 21, 2021 at 10:00 a.m.

Please join the Nonprofit Organizations Committee for a program on the topic, An Overview: Use of New Markets Tax Credits for Your Organization: A Tool for Equity and Low-Interest Loans for Expansion and/or for Working Capital, presented by Beth Bergman and Michael Allderdice.  The topics to be covered include:

• Community Renewal Tax Relief Act of 2000
• How the NMTC Program Works
• What is a “Qualified Active Low Income Community Business”?  (“QALICB”)
• What Does This Mean to Your Non-Profit?
  • Construction/Rehabilitation/Expansion
  • Working capital
• US Department of Treasury Community Development Financial Institutions Fund website: www.cdfifund.gov

Beth Bergman represents numerous local and national tax-exempt organizations, including community development financial institutions and community development entities in connection with the New Markets Tax Credits program. Beth lectures in the areas of the NMTC program, tax-exempt formation, nonprofit subsidiaries, affordable housing, joint ventures and social enterprise. Beth is ranked as a top-rated nonprofit attorney by Super Lawyers and is AV rated by Martindale-Hubbell. Beth is an ex-NY’er, attended Brown University and Harvard Law School and enjoys practicing law, raising her teenager, sitting on several boards, and playing music when time allows as a singer and violinist. 

Michael Allderdice represents community lenders, the community development departments of several cities, tax-exempt organizations, affordable housing developers and residential developers. His practice areas include real estate finance, land use and planning, affordable housing and CEQA. Michael has lectured in the areas of the NMTC program, nonprofit subsidiaries, nonprofit governance and joint ventures, and sits on the board of the West Hollywood Community Housing Corporation. Michael is AV rated by Martindale-Hubbell. Michael is originally from the Windy City, a graduate of Washington & Lee University and George Washington Law School.

*This program has been approved for 1 hour of MCLE credit by the California Community Foundation.  The California Lawyers Association is not the provider of this MCLE credit. 

Following the presentation, the Nonprofit Organizations Committee will continue our regular meeting with announcements, updates, and discussion topics of interest to nonprofit organization attorneys.

Join Zoom Meeting
https://us02web.zoom.us/j/84223960890

Meeting ID: 842 2396 0890
Passcode: 123456

We will have BOTH audio and video on Zoom for this meeting.   If you prefer to get audio by phone, call 1 669-900 6833, and enter the meeting ID above.  For phone instructions for Zoom, see here.  Written materials are being sent separately.

For more information about the Nonprofit Organizations Committee and its programs, please contact Committee Chair Louis E. Michelson (louis@lemtax.com).

Know someone who would like to receive our E-bulletins?  Anyone interested may sign up on the website of the California Lawyers Association.   

Become an official member of the Nonprofit Organizations Committee!  The CLA Business Law Section is accepting applications online here..  Applicants must be Business Law Section members who have been admitted to the California Bar for at least five years. 

This e-bulletin was written by Louis E. Michelson, Vice-Chair, Programs.

Upcoming meeting dates:  

• Nov 18, 2021 10am, Changing the Purpose of Yesterday’s Gifts, Barbara Rhomberg
• Jan 20, 2022 10 am, The Unique Aspects of Tax Law Affecting Religious Organizations, Myron Steeves