Jacob I. Friedman is a former head of the Not-for-Profit/Exempt Organizations Group and former chair of the Tax Department.
Jay has been involved in various facets of federal and state tax and employee benefits laws. In recent years, his major areas of practice have been the structuring of alternative investments for pension trusts and other exempt organizations, and the rendering of fiduciary advice to trustees. Jay advises Proskauer’s philanthropic and other not-for-profit clients on fiduciary and tax exemption issues and their specialized tax problems, including unrelated business income tax ramifications of diverse investments, such as venture capital, hedge funds, futures, natural resources, buyout funds and corporate finance.
He regularly is called upon to devise strategy in tax-exempt trust litigation and to handle complex administrative negotiations with the IRS. Jay has actively structured and negotiated numerous significant investments in the U.S. and abroad for multibillion-dollar tax-exempt entities.
Jay has lectured at seminars sponsored by Proskauer, The New York Law Journal, New York University, The New York State Bar Association and the International Association of Financial Planners on areas such as real estate investment, tax credits, unrelated business taxable income, ERISA, and negotiating strategy with the IRS. He chaired Proskauer's annual "Trick or Treat Tax-Exempt Seminar," held at the end of every October. He is a co-author of the ERISA Fiduciary Answer Book published by Panel Publications and a contributing author to Complete Guide to Nonprofit Organizations.
Education
-
New York University School of Law, LL.M., (Taxation)
-
New York Law School, J.D.
cum laude
With Honors
Associate Editor, New York Law School Law Review
-
Brooklyn College, B.A.
cum laude
Admissions & Qualifications
- New York
Court Admissions
- Tax Court of the United States
Memberships
New York City Bar
New York State Bar Association
American Bar Association
Awards & Recognition
Best Lawyers in America 2013-2023
New York Super Lawyers 2006, 2013-2022
Fellow, American College of Investment Counsel
The Legal 500 United States: Finance: Not-For-Profit 2012-2015
The Legal 500 United States: Tax: Domestic tax: East Coast 2007-2011
Not For Profit/Exempt Organizations Blog
Read the latest issues and developments impacting the sector
Edited by Jacob I. Friedman