Attorney

Biography

With a federal income tax background, Ruth Sparrow has more than 25 years of experience representing clients nationwide in tax credit syndication and community economic development finance.

Ruth represents community development entities, for profit and nonprofit developers, lenders and investors nationwide in new markets tax credit and historic rehabilitation tax credit transactions. Ruth also assists clients in analyzing the opportunity zone incentive enacted in the 2017 Tax Cuts and Jobs Act.

At Wolf Block Schorr and Solis-Cohen in Philadelphia, where Ruth was a partner in the Tax Department and Vice-Chair of the Government Assisted and Affordable Housing Group, Ruth focused her practice on low-income housing tax credit, HOPE VI mixed-finance and historic rehabilitation tax credit transactions. Prior to forming Future Unlimited Law PC, Ruth Sparrow was of counsel and co-chair of the Affordable Housing and Community Development Group at Garvey Schubert Barer in Seattle.

Ruth has represented clients in NMTC transactions since the inception of the program. Ruth is a member of the Advisory Board (NMTC) of the Novogradac Journal of Tax Credits. Ruth speaks frequently at tax credit conferences and publishes articles on current tax credit issues.

Areas of Practice

  • New Markets Tax Credits
  • Historic Tax Credits
  • Community Economic Development
  • Federal Income Taxation

Bar Memberships

  • Washington
  • Pennsylvania

Education

  • New York University School of Law, J.D., 1987
  • Articles Editor, New York University Review of Law and Social Change
  • University of California at Santa Cruz, B.A., Politics, with Honors, 1980
  • Wesleyan University, Middletown, CT, 1976-78

Professional Activities

  • Advisory Board (NMTC), Novogradac Journal of Tax Credits
  • NMTC Working Group (Novogradac)
  • Historic Tax Credit Coalition
  • NMTC Coalition
  • American Bar Association, Forum on Affordable Housing and Community Development

Recent Speaking Engagements

  • New Markets Tax Credit Virtual Summit 2020, Pre-Conference 202 Workshop, CohnReznick LLP, May 2020
  • New Markets Tax Credit Conference, “Interpreting and Complying with the New NOAA Language and FAQ Guidance”, Novogradac & Company, October 2016
  • New Markets Tax Credit Conference, “Exiting the Deal Part 2: Investor Exit Tax Considerations”, Novogradac & Company, October 2015
  • New Markets Tax Credit Conference, “NMTC Advanced Concepts”, NMTC 201 Pre-Conference Workshop, Novogradac & Company, October 2015
  • CCML NMTC Roundtable, “Highlights from the December 2014 CDFI Fund’s Updated NMTC FAQs”, June 2015
  • New Markets Tax Credit Conference, “Managing Exit Strategies”, Novogradac & Company, June 2015
  • New Markets Tax Credit Conference, “HTC Safe Harbor – Related Party Satisfaction”, Novogradac & Company, June 2014
  • New Markets Tax Credit Conference, “Roundtable Workout: Operating Business Financing with NMTCs”, Novogradac & Company, October 2013
  • 12th Annual NMTC Summit, “Compliance Expectations”, CohnReznick LLP, May 2013

Publications

  • Planning for NMTC Loan Funds – Exit Strategies, Novogradac Journal of Tax Credits, February 2020
  • Structuring NMTC Loan Funds is Key, Novogradac Journal of Tax Credits, June 2018
  • IRS Issues Final Targeted Populations Regulations, Novogradac Journal of Tax Credits, January 2012
  • Targeted Populations Guidance to Date Leaves Some Unanswered Questions, Novogradac Journal of Tax Credits, June 2011
  • IRS Notice 2010-62 Interim Guidance on Economic Substance Codification, Novogradac Journal of Tax Credits, October 2010
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