By Madeline M. Ursini and Elizabeth O. Manchester On March 5, 2024, the U.S. Department of Education (the “Department”) announced that Liberty University (“Liberty”) has agreed to pay a fine of $14 million for material and ongoing violations of the Federal Clery Act. This fine, which was imposed by the Department’s Office of Federal Student...
By Lawrence J. Sheh, Elizabeth O. Manchester, Brian J. Reilly, and Madeline M. Ursini Beginning on January 1, 2024, the vast majority of new and existing business entities will become subject to beneficial ownership information reporting requirements under the Corporate Transparency Act and its related rules and regulations (collectively, the “CTA”). The CTA requires certain...
By Elizabeth O. Manchester and Lawrence J. Sheh Overview Donors with ownership interests in privately held companies (i.e., limited liability companies, corporations, partnerships) have the ability to utilize the interest to make a charitable gift. This strategy becomes particularly useful and relevant when Donor is selling his or her business to a third party. Donors...
By Madeline M. Ursini or Elizabeth O. Manchester The U.S. Department of Education launched a civil rights investigation into Harvard University’s (“Harvard”) use of legacy and donor admissions preferences, following the United States Supreme Court’s recent decision to strike down the indication of one’s race as a factor in affirmative action policies related to college admissions....
By Madeline M. Ursini, Elizabeth O. Manchester, and Alicia J. Samolis On June 29, 2023, the Supreme Court of the United States determined the constitutionality of the race-based admissions policies employed by Harvard College and the University of North Carolina in the landmark cases Students for Fair Admissions, Inc. v. President and Fellows of Harvard...
By Elizabeth Manchester In 2021, the National Collegiate Athletic Association (“NCAA”) adopted a policy that permitted student athletes to be compensated for the use of their name, image, and likeness (“NIL”). Since then, organizations have been established by boosters or fans to develop and fund these NIL deals for the student athletes, generally known as...
By Elizabeth Manchester Introduction: As the Supreme Court prepares to rule on two landmark affirmative action cases (Students for Fair Admissions Inc. v. President and Fellows of Harvard College and Students for Fair Admissions Inc. v. University of North Carolina), auditing restricted use scholarship funds or program funds becomes increasingly important. Educational institutions and affiliated entities must...
President Biden recently signed into law the Secure 2.0 Act of 2022. The Act contains, in part, an expansion of the rules for qualified charitable distributions. A qualified charitable distribution (“QCD”) is a direct transfer of funds from an individual retirement account to a qualified charity. Two of the highlights, which are effective for the...
Whether you run a nonprofit or serve on the Board, you have a responsibility to make sure the organization is in compliance. There never seems to be enough time to step back, take stock, and launch that preventative compliance review. At a minimum, there are things that any nonprofit can do – and every nonprofit should do:...
For over thirty years, Beacon Mutual has been the leading provider of workers’ compensation insurance in Rhode Island. Beacon Mutual makes it a part of its mission to care about Rhode Islanders. Now, they will fulfill that mission in part through funding The Beacon Foundation. The Beacon Foundation, through the issuance of donations and grants, will...
