Tax-exempt organizations play a major role in the U.S. economy with an estimated $3 trillion in assets and $1.4 trillion in revenue, and law firms are lining up to capture a share of the bounty by creating practice groups dedicated to addressing the unique legal needs of nonprofits. The move comes as law firms see an opportunity with tax-exempt organizations facing closer government scrutiny and public demands for the groups to be more accountable for their finances and transparent in their recordkeeping.
November 20, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Tax-exempt organizations play a major role in the U.S. economy with an estimated $3 trillion in assets and $1.4 trillion in revenue, and law firms are lining up to capture a share of the bounty.
Firms such as West Palm Beach, Fla.-based Gunster, Yoakley & Stewart are creating practice groups dedicated to addressing the unique legal needs of nonprofits.
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