Many organizations, whether for tax, mission, fund-raising or historical reasons, operate as non-profit organizations. At Goulston & Storrs, these organizations can be a pro bono client, a family foundation or an institution that has been in existence for centuries. Goulston & Storrs has extensive experience assisting such non-profit organizations in all phases of their operations. We understand and are sensitive to the unique issues that affect non-profits, both with respect to their financial operations, as well as those challenges that relate to the more abstract issues of mission and governance.
Attorneys at Goulston & Storrs are experienced in counseling clients in connection with initial organizational issues, technical tax-exempt requirements of the IRS, issues related to mergers, acquisitions and other affiliations, and bankruptcy and creditor rights issues as they apply to non-profit organizations. Although many of our non-profit clients are traditional 501(c)(3) charities, others operate as trade associations, community benefit organizations and other types of non-profits. We are experienced in assisting our non-profit clients in selecting the right form for any new ventures on which they might embark - the non-profit model is not always the right choice. Helping non-profit clients succeed during these challenging times is an activity that we are knowledgeable and experienced in and a role we enjoy.
Representative Projects and Transactions
- Represented Harvard Pilgrim Health Plan in its acquisition of Neighborhood Health Plan.
- Represented Massachusetts Hospital Association in its acquisition of New England Health Care Assembly.
- Represented Beth Israel Hospital in its affiliation with New England Deaconess Hospital.
- Negotiation of multi-million dollar gifts to charitable organizations.
- Creation of several “American Friends” organizations that support global charitable activities.
- Technology transfer and equity investment transactions, and analysis of a variety of non-profit issues, for a major chain of teaching hospitals.
- Creation of deferred compensation programs for CEO of two large non-profit healthcare organizations.
- Represented a non-profit developer in mixed-use, mixed-income project that combined rental and homeownership units and utilized 9% low-income housing tax credits.
- Organization of several non-profit home health agencies to serve the elderly in the community and in assisted living settings.