Impact investing, defined broadly as a nonprofit’s use of its assets to further its mission while also providing a financial return, offers an ever-expanding variety of ways to achieve both impact and financial sustainability. There are many approaches to impact investing, from the relatively passive – such as screening endowment investments to exclude certain industries – to actively investing in a for-profit venture aligned with a nonprofit’s mission. Impact investments may take the form of a simple loan or may involve complex structures such as joint ventures or for-profit subsidiaries. Many of these approaches are familiar and well established, but others – such as nonprofit-owned investment funds that offer returns to private investors – push into new territory and test the line between nonprofit and for-profit activities.
Please join Attorney Janet Rickerhauser as she offers a practical, nuts-and-bolts guide to the main forms of impact investing available to nonprofits today, providing attendees with a concrete framework for evaluating and pursuing impact investing opportunities. For each approach, the webinar highlights the main components of the opportunity, such as the potential advantages to the nonprofit, the type of legal structure involved, and the agreement or other legal documentation required, as well as the legal risks involved.
WHAT YOU'LL LEARN
Just a sampling of what this webinar will cover:
- Socially responsible/mission-related investing, including screening companies and shareholder advocacy
- Direct MRIs and PRIs (for both private foundations public charities)
- Joint ventures and for-profit subsidiaries
- Hybrid models such as L3Cs and benefit corporations
- Investment vehicles such as targeted donor-advised funds and private investment funds
- Social impact bonds
- Prudent investor standards, donor restrictions, and other state law considerations
- Private benefit, UBIT, and other 501(c)(3) issues
- IRS and state reporting requirements
- AND MUCH MORE!
YOUR CONFERENCE LEADER
Your conference leader for “Social Impact Investing: Opportunities and Risks for Nonprofits” is nonprofit lawyer Janet Rickerhauser. Janet counsels charities and other tax-exempt organizations on a broad array of governance, fundraising, and tax issues.
Janet has particular expertise with respect to the complex tax rules governing nonprofit organizations, advising clients on 501(c)(3) and related issues such as qualifying as a publicly-supported charity or supporting organization, intermediate sanctions, international grantmaking, the unrelated business income tax (UBIT), and lobbying rules and restrictions, and she works with private foundations on program-related investments (PRIs), and avoiding self-dealing penalty taxes. In addition, she guides clients through special projects, such as creating a joint venture, a commercial co-venture fundraising program, or a scholarship or disaster relief program.
Janet also supports educational organizations and other nonprofits in managing endowments, negotiating and administering unique and restricted gifts, establishing and terminating charitable gift annuities, and other planned giving issues. In addition, she works with clients on organizational issues, including governance reviews, changes in mission, acquisitions, mergers, and dissolutions. She also provides expert litigation research and support in cases involving charitable bequests, restricted gifts, trust administration, and other issues.
As an experienced estate and tax planning attorney, Janet also counsels individuals and families on complex estate planning and charitable giving strategies such as creating and administering family foundations, establishing charitable remainder trusts, and making endowment gifts.
Janet was previously a senior attorney at Goodwin Procter and is admitted to the bar in Massachusetts, New York, and Connecticut. She holds a J.D. from New York University School of Law, an M.A. from Columbia University, and a B.A., magna cum laude, from Brown University, and she speaks French and some Russian and Spanish.