Featured Publications

Holland & Knight  Assists Client in Acquisition of MetroSouth Medical Center in Blue Island, Illinois

CHICAGO – A team of Holland & Knight attorneys, led by Chicago Partner Anne Murphy, today completed a transaction in which client MSMC Investors LLC acquired St. Francis Hospital and Health Center from SSM Health Care. The historic 410-bed hospital, founded in 1905, was slated for closure after earlier efforts to find a buyer were unsuccessful. The acquisition was successfully completed on an unusually aggressive timetable. The hospital is the largest employer in Blue Island, and is known for its high quality service and excellence in cardiac care.

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Private Wealth Services: Alert - November 26, 2008

A tumultuous 2008 – marked by a financial crisis many economists consider to be the greatest since the 1930s – is rapidly coming to an end. As we approach year-end, taxpayers should remain focused on their personal income tax liability and those tax saving techniques that may alleviate the inevitable financial burden many associate with April 15. This alert covers recommendations for 2008 year-end tax planning and incorporates some new options resulting from the recent enactment of the EESA. Due consideration must also be given to many of Mr. Obama’s proposed tax changes (or some iterations thereof) that will likely be adopted in 2009 making the tax planning process even more challenging in 2008.

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Non Profit & Tax Exempt Organizations

Managing Conflicts of Interest: A Primer for Nonprofit Boards
 

BoardSource

March 1, 2006
 

The key for nonprofit boards is not to try to avoid all possible conflict-of-interest situations, but to identify and follow a process for handling them effectively. How an organization manages conflicts of interest and assures open and honest deliberation affects all aspects of its operations and is critical to making good decisions, avoiding legal problems and public scandals, and remaining focused on the organization’s mission.

Help promote a culture of disclosure in your nonprofit by exploring the meaning of conflicts of interest and understanding the legal rules relating to them. “Managing Conflicts of Interest: A Primer for Nonprofit Boards,” acknowledges the difficulty in identifying problematic conflicts of interest, and gives recommendations for practice. This new edition discusses:

  • The most recent state and federal laws governing conflicts of interest
  • Important legal concepts, including private inurement, private benefit, and intermediate sanctions
  • Situations that give rise to conflicts of interest
  • Creation of a conflict-of-interest policy and the requirement for proper disclosure
  • Establishing a procedure for responding to existing conflicts
  • Organizational code of ethics and maintaining an overall culture of integrity
  • Special considerations for private foundations in dealing with conflicts of interest

“Managing Conflicts of Interest: A Primer for Nonprofit Boards” is available for purchase at http://www.boardsource.org/Bookstore.asp?Item=182 or by calling 800-883-6262.