PhAMAS

Panel

Thursday, June 26, 2025

Not-for-Profit Status Under Attack - Implications for Universities and Other 501(c)(3) Muni Market Issuers

While the most high-profile threat to not-for-profit tax status has been targeted at Harvard University, the implications ring wide across the nonprofit sector. Hear from industry experts about 1) threats to and defenses by nonprofit sector entities including universities, housing agencies, environmental groups, research institutes, and healthcare organizations; 2) legal precedents and process for revoking 501(c)(3) status; 3) potential impact to bonds issued by nonprofit borrowers in the muni market if 501(c)(3) status is revoked.

Speakers:

Bill Rhodes
Partner and Head of Education Industry Group and Municipal Recovery Initiative
Ballard Spahr (biography)

Mark Schmidt, CFA
Head of Muni Strategy
Morgan Stanley

Noel A. Fleming
Partner, Nonprofit Law Practice
Archer & Greiner P.C. (biography)

Shannon McCracken, CAE
President and CEO
The Nonprofit Allliance (biography)

Moderator: 

Akiko M. Mitsui, CFA
Director, US Public Finance Higher Education and Not-for-Profit Group
Fitch Ratings

Date: Thursday, June 26, 2025
Attend in-person, online, or by recorded replay for all registrants

Time: 
3:00 - 4:30 pm: Interactive panel discussion
4:30 - 5:30 pm: Reception with panelists and other in-person attendees

Location:

ZOOM or
Ballard Spahr
1735 Market Street, 48th Floor
Philadelphia, PA 19103

Cost for all registrants (in-person, Zoom or by replay):
$35 for members of PhAMAS/NFMA
$50 for non-Members
Representatives of government, nonprofit organizations, or students can attend for free.
This event is not open to the press.

Click HERE to register.

Please contact [email protected] with any questions or to submit questions to the panelists in advance.