Properly Operating as a Tax-Exempt or Taxable Non-Profit Organization - New Liability and Legal Nightmares

Kingwood, TX (PRWEB) May 3, 2007

"Properly Operating as a Tax-Exempt or Taxable Non-Profit Organization - New Liability and Legal Nightmares" has been added as a new session to the Spring Conference of the American Association of Debt Management Organizations (AADMO) in Washington, D.C. on May 10, 2007. AADMO is the largest trade association for the credit counseling industry.

According to Mark Guimond, Executive Director of the AADMO, "The perfect storm of corporate and personal liability may be ready to hit credit counseling agencies that lose their tax-exempt status or retain that status with penalties. The newest concerns are the decisions in several federal circuits and the maintenance of a RICO claim coupled with the state law provisions of the Uniform Debt Management Services Act."

"There are new rules every day. Anyone that has personal guarantees of bonds or property needs to know what's going on. This is critical information for all agencies and their legal counsel", said Guimond.

The session will be presented by A. Brian Albritton who is a partner at Holland & Knight. Mr. Albritton concentrates his criminal and civil practice in three related areas. He practices "white collar" criminal defense, and devotes a large portion of his practice prosecuting and defending claims relating to trade secret theft, noncompetition agreements and other restrictive covenants. Additionally, Mr. Albritton advises clients and handles litigation involving telemarketing, direct mail marketing, consumer and unfair and deceptive trade practice claims brought by the Federal Trade Commission and Attorneys General.

Other sessions will include:

• The IRS and Credit Counseling Agencies: 80 New Audits. New Tax Exemptions. What Does It All Mean?

Speaker:        Jeffrey S. Tenenbaum, Esq., Partner, Venable LLP

• The Taxable Non-Profit: Pros & Cons

Speaker:        Mark Guimond, AADMO Executive Director
                    Jeffrey S. Tenenbaum, Esq., Partner, Venable LLP

• International Credit Counseling

Speaker:        Malcolm Hurlston, Foundation for Credit Counseling, UK

• Who Went Bankrupt In 2006? A Demographic Analysis of Debtors

Speaker:    Leslie Linfield, Esq., The Institute for Financial Literacy

• Effective Financial Literacy Delivery Methods

Speaker:        Jeanne Hogarth, Program Manager, Board of Governors of the Federal Reserve System

• EOUST Briefing on the Current Status of Bankruptcy Reform, Credit Counseling and Debtor Education

Speaker:        Henry Hobbs, Executive Office for United States Trustees

• Valuing Account Portfolios

Speaker:     Paul Baumann, PCE Valuations

• Keynote Speaker, Author of "Credit Card Nation"

Speaker:     Dr. Robert Manning

The AADMO Spring Conference program and registration information can be found at http://www.AADMO.org.

AADMO is working diligently to ensure the continued operation and viability of credit counseling and debt management organizations. AADMO is the only trade association for credit counseling that provides important education and information for the entire industry.

About AADMO
AADMO is the largest trade association for the credit counseling and debt management industry. Nationwide, the majority of licensed and legally operating credit counseling agencies are members of AADMO.

AADMO members are consumer credit counseling agencies, debt management organizations, bankruptcy pre-filing counselors, credit counselors, personal finance educators, credit and debt information educators, bankruptcy debtor education providers, consumer lawyers and many others.

AADMO is the only trade association to have held state law compliance workshops with the New York State Banking Department and the California Department of Corporations upon enactment of their respective laws governing credit counseling and AADMO is the only trade association for the industry to publish a formal summary of state laws that has been reviewed by state regulators.

About Brian Albritton:

Mr. Albritton, a graduate of Boston College Law School, focuses his legal practice in the areas of Antitrust, Trade Regulation and Competition Law, Environment, Health and Safety Litigation, Intellectual Property, White Collar Defense and Corporate Compliance.

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