Gifts From Cousin Eddie: Acceptance, Ownership & Management by Charities of Unusual Assets

Session will explore certain non-cash or public security gifts to charity and the concerns to the donor of making such gifts and the concerns to the donee of receiving such gifts.

Objectives:
Understand the valuation and deductibility issues of the donor;
Understand the liability and UBIT issues of the donee;
Understand the use of gift acceptance policies by donee of unusual assets.

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Michael V. Bourland
Bourland, Wall & Wenzel, P.C.

Mr. Bourland is the founding shareholder of Bourland, Wall & Wenzel, P.C., a Fort Worth, Texas law firm which represent individuals, closely held and family businesses, professional practices and nonprofit entities (including charitable organizations) within its areas of legal practice. Mr. Bourland was born in Fort Worth, Texas on October 2, 1943.  He earned a B.A. from Baylor University and his J.D. from Baylor University School of Law.  He earned his LL.M. in Taxation from University of Miami, Florida.  Additionally, he was a Captain in JAGC, USAF, 1970-1975.

Mr. Bourland was admitted to practice law in Texas in 1969 and is Board Certified in Estate Planning and Probate Law (Texas Board of Legal Specialization).  He is a member of the American Bar Association; State Bar of Texas and its Real Estate, Probate and Trust Law Section (Real Estate, Probate and Trust Law Council, 1993-1996); Tarrant County Bar Association (Director, 1987-1989); Tarrant County Probate Bar Association; Fort Worth Business and Estate Council (Chair, 1992-1993); and a Fellow of the American College of Trust and Estate Counsel.

Mr. Bourland’s practice is directed to entity planning, (corporations, limited partnerships, limited liability companies, etc.) tax, estate planning, trusts, probate, charitable entity and charitable giving law. Mr. Bourland has been/is currently a guest lecturer in estate planning at Baylor University School of Law (where he lectures on estate planning and serves as adjunct professor of law, co-teaching the Nonprofit Organizations course), Baylor University School of Business, Southern Methodist University School of Law, University of Texas School of Law and The Center for American and International Law.  He speaks regularly throughout the United States on subjects within his practice areas at seminars conducted by, among others, American Bar Association, American Law Institute, Texas Bar Association, American Institute of CPAs, Salk Institute for Biological Research and Texas Society of CPAs, Notre Dame, Duke and Tulane Universities.

Additionally, he has spoken to churches and church leaders on the creation of church foundations and the governance of church organizations.  Mr. Bourland has contributed on subjects within his practice areas to publications including the New York Times, Nation’s Business, Business Week and Money magazine.   Mr. Bourland is a co-author of Keeping Your Church Out of Court, first, second and third editions.

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Megan C. Sanders
Bourland, Wall & Wenzel, P.C.

Megan C. Sanders joined the firm as an associate in 2011. An honors graduate of Baylor University School of Law and Texas Christian University, her practice focuses primarily on estate planning, probate, charitable entity formation, charitable giving, and tax planning issues. She represents professionals, families, charitable entities and closely-held businesses in the firm’s areas of expertise to achieve their estate planning, wealth migration, asset protection, and transfer tax planning goals, among others.

Relevant Experience

• Co-author, Gifting of Unusual Gifts with a Focus on Oil and Gas and Real Estate, presented at the 29th Annual Nonprofit Organizations Institute, January 18-20, 2012
• Co-author and co-presenter, The Design and Implementation of Conflict of Interest and Gift Acceptance Policies, presented to the Fort Worth chapter of the Texas Society of CPAs, September 25, 2012.
• Co-author and co-presenter, Nuts & Bolts: Estate & Charitable Planning 101, presented to the North Texas Chapter of the Partnership for Philanthropic Planning, March 12, 2013.
• Co-author and co-presenter, Legal & Tax Uncertainty: How to Work with Your Donors to Plan for It, presented to the North Texas Chapter of the Partnership for Philanthropic Planning, March 12, 2013.
• Co-author, Charitable Remainder Trusts, presented to the Planned Giving Council of Houston, March 28, 2013.
• Author, Roundtable Discussion: Charitable Giving With Oil and Gas Interests, Presented to The American College of Trust and Estate Counsel 2013 Fall Meeting, October 24-27, 2013.
• Author, Resolving Trustee Disputes: Foundation Split-Ups and Other Approaches,
  • Presented to the SALK Institute, 41st Annual Tax Seminar for Private Foundations, May 15-17, 2013;
  • Presented to the State Bar of Texas 11th Annual Governance of Nonprofit Organizations, August 22-23, 2013;
  • Published in Family Foundation Advisor, Vol. 12, No. 5, 6 and 7, 2013; and
  • Presented to The University School of Law-Conference of Southwest Foundations 31st Annual Nonprofit Organizations, January 15-17, 2014.
• Author, Gifts From Cousin Eddie: Foundation Acceptance, Ownership & Management of Bizarre Assets
  • Presented to the SALK Institute, 42nd Annual Tax and Management Seminar for Private Foundations, May 14-16, 2014
• Author, It’s Tea Time – “Texas Tea” Time: Advising Donors and Managing Gifts of Oil, Gas and Mineral Interests
  • Presented to the State Bar of Texas 12th Annual Governance of Nonprofit Organizations Conference, August 22, 2014

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