IRS Rules That Impact Investment Fund Is Not Charitable Activity
By EsqSocial Corporation 02/11/20
Over the last decade, impact investing has become a significant focus of many nonprofits, just as it has captured the attention of investors who care about social benefit or environmental results as much as financial results. The IRS recently issued a ruling that is a warning to public charities engaged in developing impact-investing opportunities and may discourage foundations seeking to make program-related investments (PRIs) by investing in certain impact funds......
By: Morrison & Foerster LLP