Elizabeth O. Manchester

Partner

As Chair of the firm’s Nonprofit & Tax-Exempt Practice Group, Elizabeth represents tax-exempt entities, centered on compliance, formation, charitable gift planning issues and best practices. She has extensive experience assisting institutions with the inception of planned giving programs, as well as corporate governance matters and maintenance of tax-exempt status. Elizabeth advises charitable institutions and institutions of higher learning about tax benefits available to donors, to assist in discussions with donors to appropriately advance the organization’s mission.

Serving as external general counsel for public charities and private foundations, Elizabeth advises nonprofits regarding board education and training, fiduciary obligation advice, compliance, donor representation, endowment fund management, finance, Form 990, reporting issues, governance, joint ventures, affiliations, and litigation prevention. In addition, she advises nonprofits regarding managing bequests and complex gifts for organizations, mergers and acquisitions, obtaining and maintaining tax exemptions, policies, political and lobbying restrictions, and tax.

Elizabeth counsels individuals, families, business owners, and fiduciaries on aspects of charitable planning. She works with corporations to identify philanthropic goals and effectuate corporate philanthropy.

Practice Areas

Corporate & Business

Nonprofit & Tax-Exempt

Education

Northeastern University School of Law, J.D.

Providence College, M.B.A.

Providence College, B.A., magna cum laude

Bar Memberships

Rhode Island

Massachusetts

Personal Note

Liz lives in Rumford with her husband Bernie and her daughters Quinn and Blair. Her passion for giving back and philanthropy was inspired by her parents who opened their restaurant in Fall River, the Rocking Horse Pub, on the holidays to feed the homeless. She enjoys playing golf, skiing, and rooting for the Providence College Friars.

Professional Affiliations

Rhode Island Bar Association
- Business Organizations and Nonprofit Committee, Co-Chair
Massachusetts Bar Association
Boston Bar Association
Rhode Island Women’s Bar Association

Boards and Community Activities

Estate Planning Council of Rhode Island
- Member
Leadership Rhode Island
- Member of 2016 Mu II Class
Partnership for Philanthropic Planning of Rhode Island
- Immediate Past President
Rhode Island Foundation
- Professional Advisory Council
Taco/The White Family Foundation
- Board of Directors
Providence College
- President’s Council
- Adjunct Professor in Business Law
American Heart Association
- Women’s Executive Leadership Committee
- Go Red for Women 2024-2025 Executive Leadership Team

Representative Work

External General Counsel for Public Charities and Private Foundations

Elizabeth has experience serving as external counsel for nonprofits, specifically colleges and universities working with their foundations and independent schools. Elizabeth has advised public charities and private foundations on:

Affiliations
Board education and training
Compliance
Donor representation
Endowment fund management
Fiduciary obligation advice
Finance
Form 990
Governance
Joint ventures
Litigation prevention
Managing bequests and complex gifts for organizations
Mergers and acquisitions
Obtaining and maintaining tax exemptions
Policies
Political and Lobbying Restriction
Reporting issues
Subsidiary Formation
Supporting Organization Formation

Formation of Nonprofit Entities, Corporate Governance and Maintaining Tax-Exempt Status

Nonprofit qualification for tax-exempt status and formation.
Implementing corporate governance checks and balances and best practices.

Representative Work

Forms public charities, private foundations, for profit and nonprofit subsidiaries, supporting organizations and private operating foundations.
Has assisted higher education and nonprofit institutions with raising over $100 million in new planned giving commitments and structuring complex gifts.
Allows charitable institutions to have flexibility with planning strategically for the future through the establishment of sophisticated charitable giving programs.
Manages risk for organizations with a variety of legal tactics.
Modifies restricted fund use.

Charitable Giving

Elizabeth can assist with advising charitable institutions on accepting gifts of the following assets and how to engage in the following conversations with donors:

Art and Unique Assets
Bequests
Charitable Gift Annuities
Charitable Lead Trusts
Charitable Remainder Trusts
Donor Advised Funds
Life Insurance
Pooled Income Funds
Privately Held Stock
Real Estate
Retirement Benefits

Gift Administration and Asset Management

Best practices to protect an organization’s interests through the administration processes for these gifts, including:
Gifts through probate or trust administration. Assists clients in reviewing first and final accountings, receipts and releases and understanding customary and reasonable expenses associated with estate administration.
Reviewing trust statements for externally managed trusts that were both income producing and non-income producing. Reviews good investment practices, reasonable trustee’s fees and proposals to trustees to terminate interests in trusts, expediting distributions for the client.
Gift Review Committees for certain assets.
Allocating bequests to endowment, quasi-endowment or current use based on testamentary language.
Expenditures of bequests designated to specific purposes in year they are received.
Drafting, amending and establishing gift agreements.