Andrew M. Grumet

Counsel

Andrew M. Grumet concentrates his practice in tax law with an emphasis on domestic and international tax-exempt organizations, charitable giving and philanthropy, personal tax planning, trusts and estates, probate and administration.

He has represented, among others, organizations such as:

• Domestic and international family foundations
• Public charities
• Schools
• Supporting organizations
• Museums
• Hospitals
• Religious organizations
• Community trusts and donor advised funds
• Trade associations
• Social clubs
• Social welfare organizations

Mr. Grumet regularly counsels organizations with respect to issues regarding:

• Formation and organizational structuring
• Compensation and excess benefit/self-dealing advice
• Corporate governance
• Fundraising and state solicitation regulatory matters
• Corporate policies
• Unrelated Business Taxable Income (UBTI) issues and investments
• Establishment and modification of endowments and restricted funds
• Fiduciary duties
• Domestic and international grantmaking
• Tax and financial reporting
• Planned giving
• Special events

In Mr. Grumet's trust and estate planning practice he has represented, among others, owners of closely held businesses, real estate investors, hedge fund principals, brokers, traders, and analysts in matters involving asset preservation trusts, charitable lead trusts and charitable remainder trusts, life insurance and split dollar insurance planning, disclaimers, and retirement benefit planning. Mr. Grumet has significant experience in matters involving the preparation of wills and trusts for U.S. and non-U.S. citizens, and pre-immigration planning.

Mr. Grumet has supervised all aspects of estate administration, including the preparation of estate and gift tax returns, and he has experience in trust and estate litigation. He has represented clients in connection with gift and estate tax audits and appeals.

Mr. Grumet is frequently consulted by media outlets with respect to issues affecting nonprofit organizations. He has appeared in publications such as The Chronicle of Philanthropy, TIME magazine, the International Herald Tribune, and the New York Times, among others.

Experience

• Regularly provides advice and regulatory compliance services with respect to state solicitation laws and registration requirements, both initial and renewal, for numerous public charities with fundraising activities across the U.S.
• Regularly provides continuing education to board members, officers, staff and volunteers regarding best practices, fiduciary duties, legal developments, trends and techniques.
• Regularly provides organizational audits of charities to assess not only financial strengths and deficiencies, but to determine the effectiveness of a charity's operations and regulatory compliance.
• Served as outside general counsel to one of the largest donor industry funds in the U.S.
• Worked on a transaction for a museum that included one of the largest art acquisitions in history.
• Formed and acted as general counsel to numerous fundraising organizations raising funds for use in foreign countries.
• Provided advice to national medical service organizations regarding excess benefit transactions with executive director.
• Served as outside general counsel to national charity and individual state chapters in each state providing pooled special needs trust services to individuals.
• Served as counsel and general architect in the design, implementation and operation of a first of its kind joint venture among three large social service agencies in a major U.S. city. This project culminated in the formation of a new charity to serve as a joint planned giving fundraising organization for the benefit of the participating social service agencies.
• Assisted local, regional and national charities in the establishment of planned giving and major gift programs, including the creation of charitable gift annuity programs, pooled income funds and captive donor advised funds. These engagements often included assisting charities in establishing fundraising committees, appropriate gift acceptance policies and donor confidentiality policies, donor recognition and stewardship plans, as well as print, electronic and Web site-based donor solicitation materials.

Publications

"Proposed Regulations Fail to Ease GST Exemption Allocation Concerns," 73 Practical Tax Strategies 324 (December 2004)

"Choosing the Best Charitable Lead Trust to Meet a Client's Needs," 30 Estate Planning 86 (February 2003), reprinted in Charitable Giving and Solicitation (May 20, 2003)

"Review Grantor Trust Planning Points and Tax Return Tips," 70 Practical Tax Strategies 68 (February 2003), reprinted in Tax Ideas (March 2003)

"Correcting Failures to Elect Out of Automatic GST Allocations," Tax Notes (electronic edition December 30, 2002, print edition January 6, 2003)

"Family Limited Partnerships and the Untrust," Life Insurance Answer Book, 3rd ed. (December 16, 2002)

"Gains and Gaffes from Funding Charitable Trusts with FLP Interests," 68 Practical Tax Strategies 332 (June 2002), reprinted in Tax Ideas (July 24, 2002)

"New Requirement to File Gift Tax Returns," The CPA Journal (June 2002)

"I Used My Entire GST Exemption? - How?" 94 Tax Notes 1219 (March 4, 2002)

"A Positive Space. The Wash-Sale Rule Depends on Waiting Between Your Selling and Buying," (Co-Author) Angel Advisor (March/April 2001)

"Final Regulations Issued to End the 'Vulture' Trust: Has the Vulture Really Been Buried?" (Co-Author) 90 Tax Notes 1227 (February 26, 2001)

"Forward Planning for 2000 and Beyond: Net GRATs, GRUTs, CLATs and CLUTs," (Co- Author) 139 Trusts & Estates 30 (May 2000)

"Vulture Trust Regulations: Hold the Valedictory?" (Co-Author) 87 Tax Notes 1641 (June 19, 2000), reprinted in 29 Exempt Organization Tax Review 51 (July 2000)

Speeches and Presentations

"A Roadmap for Board Responsibility," Staten Island Economic Development Corporation, Staten Island, New York (Forthcoming – May 5, 2008)

"Protect Yourself: A Primer on Guidelines and Policies," Support Center for Nonprofit Management, New York, New York (January 31, 2008)

"What You Don't Know Can Hurt You," 2007 Equal Justice Conference, American Bar Association and National Legal Aid and Defender Association, Denver, Colorado (March 22, 2007)

"Protecting Your Non-Profit: The Who, What, Where, Why and How of Corporate Policies," CLE Now!, American Bar Association, online audio presentation (March 2007)

"How Do I Offer Planned Giving Like the Big Shops," (Co-Presenter) Association of Fundraising Professionals of New Jersey, Edison, New Jersey (September 14, 2006)

"Getting Your Financial House in Order," (Co-Presenter) National Mental Health Association Affiliate Training Conference, Charleston, South Carolina (September 7, 2006)

"Preparing the 990 and NY Renewal Registration Forms," Support Center for Nonprofit Management, New York, New York (June 22, 2006)

"Organizational Preparedness: Everyone Else Is Checking, Are You?," 2006 NMHA Annual Meeting, National Mental Health Association, Washington D.C. (June 9, 2006)

"When Three Roads Collide and Form a Highway: Collaborating to Close a Mega-Gift," (Co- Presenter) 10th Annual Conference, Gift Planning Council of New Jersey, New Brunswick, New Jersey (May 25, 2006)

"What Donors Want: A Menu of Options," Annual Conference of the Planned Giving Group of New England, Boston, Massachusetts (May 10, 2006)

"What You Don't Know Can Hurt You," 2006 Equal Justice Conference, American Bar Association and National Legal Aid and Defender Association, Philadelphia, Pennsylvania (March 30, 2006)

"Nonprofit Accountability: Why Should I Care?, What Should I Know?," Association of Fundraising Professionals of New Jersey, Edison, New Jersey (March 2, 2006)

"Tax 1: Tax Forms," Nonprofit Helpdesk, Brooklyn, New York (March 1, 2006)

"Working with Professionals: The Good, the Bad and the Ugly," Association of Fundraising Professionals of New Jersey, Edison, New Jersey (January 5, 2006)

"Using Trusts to Receive Qualified Plan Distributions," 2005 - 2006 Continuing Education Series, College for Financial Planning, audio presentation (January 2006)

"Making the Ask," O Say Can You See (2005 Annual Meeting), MidAtlantic Association of Museums, Baltimore, Maryland (October 31, 2005)

"Current Legal Issues in Philanthropy," 2005 Conference on Philanthropy, Blackbaud, Charleston, South Carolina (October 24, 2005)

"When Three Roads Collide and Form a Highway: Collaborating to Close a Mega-Gift," (Co- Presenter) 18th National Conference on Planned Giving, National Committee on Planned Giving, Kissimmee, Florida (September 30, 2005)

"What Should I Ask For?," Gift Planning Council of New Jersey, Princeton, New Jersey (September 19, 2005)

"U.S. Tax Reform: What May Be Coming and How It May Affect Your Organization," 2005 APRA International Conference, Association of Professional Researchers for Advancement, San Diego, California (August 12, 2005)

"Writing Policies to Protect Yourself and Your Organization," Support Center for Nonprofit Management, New York, New York (June 16, 2005)

"10 Surefire Ways a Nonprofit Can Go Wrong and How to Avoid Them," CLE Now!, American Bar Association, online audio presentation (June 2005)

"Making the Ask," 2005 Regional Conference, Mid-Atlantic Association Healthcare Philanthropy, Baltimore, Maryland (May 23, 2005)

"What You Don't Know Can Hurt You," 2005 Equal Justice Conference, American Bar Association and National Legal Aid and Defender Association, Austin, Texas (May 5, 2005)

"How to Protect Assets During Life and Avoid Estate Tax at Death in New Jersey," National Business Institute, Saddle Brook, New Jersey (April 26, 2005)

"A Roadmap for Board Responsibility," Support Center for Nonprofit Management, New York, New York (February 16, 2005)

"A Holistic Approach to Gift Strategies," teleconference, CharityUniversity (December 8, 2004)

"A Toolbox to Answer the Grant-Maker's 'Accountability' Questions," 6th Annual National Conference, American Association of Grant Professionals, Boston, Massachusetts (November 12, 2004)

"Choice of Entity for Consultants," 6th Annual National Conference, American Association of Grant Professionals, Boston, Massachusetts (November 11, 2004)

"Legal Issues in Charitable Giving," 24th Annual Conference on Philanthropy, Association of Fundraising Professionals of New Jersey, Whippany, New Jersey (November 4, 2004)

"Tax Efficient Funding of Large Life Insurance Policies," 2004 - 2005 Continuing Education Series, College for Financial Planning, audio presentation (November 2004)

"Duties and Responsibilities of Board Members," Tax-Exempt Organizations Leadership Forum, Edison, New Jersey (September 22, 2004)

"Getting the Most Out of Your IRA Using a Family Limited Partnership," 2003 – 2004 Continuing Education Series, College for Financial Planning, audio presentation (May 2004)

"Gift Strategies - A Holistic Approach," The CharityChannel Summit 2004, The CharityChannel, Anaheim, California (April 15, 2004)

"Designing and Implementing Charitable Lead Trusts In Today's Changing Environment," 16th National Conference on Planned Giving, National Committee on Planned Giving, Cincinnati, Ohio (October 25, 2003)

"Designing and Implementing Charitable Lead Trusts In Today's Changing Environment," 8th Annual Conference, Gift Planning Council of New Jersey, Plainsboro, New Jersey (April 24, 2003)

"Using Charitable Trusts for Clients Who May Not Be So Charitable," 2002 – 2003 Continuing Education Series, College for Financial Planning, audio presentation (January 2003)

"Cutting Edge Strategies for Charitable Remainder Trusts in the New Millennium," (Co- Presenter) 6th Annual Conference, Gift Planning Council of New Jersey, Plainsboro, New Jersey (April 18, 2001)

"Creative Strategies for Charitable Remainder Trusts in the New Millennium," Not-for-Profit Accounting, Tax and Business Issues, Advance Training Course, Arthur Anderson Metro New York, New York, New York (March 29, 2001)

Previous Experience

Prior to joining Schiff Hardin, Mr. Grumet served as an attorney at Herrick, Feinstein LLP, Friedman Siegelbaum LLP, Deener, Feingold and Stern, P.C. and Waxman & Waxman, P.C.

Education

Teaching Appointments

Adjunct Instructor, College for Financial Planning, Master of Science Program

Professional Memberships

American Bar Association
New York State Bar Association
National Committee on Planned Giving
Gift Planning Council of New Jersey