South Side Weekly receives federal tax-exempt nonprofit status with the help of Chicago Lawyers’ Committee and Mayer Brown LLP
South Side Weekly recently completed a merger and received federal tax-exempt nonprofit status with the help of Chicago Lawyers’ Committee and Mayer Brown LLP.
South Side Weekly is a nonprofit newsroom dedicated to producing local journalism that is for, by, and about the South Side of Chicago. In 2022, the Weekly merged with the Hyde Park Herald, the oldest community newspaper in Chicago. Chicago Lawyers’ Committee connected South Side Weekly with pro bono support from Mayer Brown LLP to help them with the merger and with obtaining tax-exempt status.
“In 2019, we were just trying to get 501c3 status. Our situation became much more complicated because we also began to explore a merger with a for-profit newspaper. That made our needs much more complex,” said Managing Director of South Side Weekly, Jason Schumer. “Luckily the folks at Mayer Brown were able to take on both of those projects simultaneously. That was such a huge help.”
Pro bono volunteer attorneys Cade Cross, Elizabeth Raymond, James Casey, Nicholas Flatley, Sara Hess, Matthew McDonald, Elizabeth Raymond and Joseph Seliga, all from Mayer Brown LLP, helped South Side Weekly successfully complete the merger and helped them understand different types of mergers, the tax implications, reviewed corporate and governance documents, and guided them through the entire process.
Jason said, “(We’re) so grateful that something like this exists because at the time we were a much smaller organization with way fewer resources, and it would have been impossible for us to get that legal counsel without a service like this.”
It has been about six months since the merger was completed and since South Side Weekly established tax-exempt status. Both have been a big success for them so far, gaining more staff members and more financial stability.
“The momentum helped us with fundraising, we brought in a lot of new foundation support in the last six months. It has also helped us level up in gaining new key staff that we didn’t have before the merger,” said Jason.
The merger has allowed South Side Weekly to expand on their mission and has given them a framework for potential future expansion to create other neighborhood hubs that serve a specific community. Learn more about South Side Weekly here.
Special thanks to Mayer Brown LLP for its outstanding pro bono support. Mayer Brown LLP will be honored with the Outstanding Law Firm Partner Award at Power of Connection on June 1, 2023.