Corporate Giving Programs and Foundations
Corporate Philanthropy refers to the investments and activities a company voluntarily undertakes to responsibly manage and account for its impact on society. It includes investments of money, donations of products, in-kind services and technical assistance, employee volunteerism, and other business transactions to advance a social cause, issue, or the work of a nonprofit organization. Corporate foundations and corporate giving programs traditionally play a major role in these areas.
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Substantiation for Employee Contributions
Question: If our corporate foundation accepts contributions from employees, should we provide the contributors with receipts?
Answer: Yes, you should try to acknowledge all contributions and, if the contribution is $250 or more, you must provide a receipt. Corporate foundations organized as…
Reporting Direct Charitable Activities
Legal Compliance Guidance
Question:
Our company foundation sometimes carries out its own charitable programs. For example, last year we organized a conference on the topic of evaluating program impact for our grantees and other nonprofits in one of our communities. Where does this information get reported on our Form 990-…
Public Disclosure of Form 990-PF
Legal Compliance Guidance
Question: Our staff just received a request for a copy of our foundation's Form 990-PF. Are we required to provide this information?
Answer: Yes. A foundation’s tax return on Form 990-PF provides a wealth of information about the organization including asset size, board members, salary information…
Private Foundation Excise Tax Rates
Legal Compliance Guidance
The Pension Protection Act of 2006 (PPA) increased the excise tax rates for violations of many of the private foundation rules. In most cases, the first-tier taxes were doubled. These changes are effective for private foundations upon the foundation’s first tax year beginning after August 17, 2006…
Planning for CEO Succession
Fundamentals
Many foundations may be uncertain about what’s involved when it comes to succession planning. Some wonder why they should worry about the future at all when they have so much work to do in managing their grantmaking, community leadership and development, and administrative duties.
Succession…
Legal Compliance Guidance
Question: Why do Council on Foundations membership materials and invoices state that if my foundation and corporate giving program share a membership, dues must be paid by the corporation? Is this true for other memberships as well?
Answer: IRS self-dealing rules prohibit private foundations (…
Working with the Media
Fundamentals
Working with the media should be part of your overall communications plan. Even if you don't have a written communications plan, you still need to focus some attention toward the media. Working with the media—that is, public relations—establishes a strong public presence and image for your…
Mandatory Electronic Filing for Form 990 and 990-PF
Legal Compliance Guidance
Question: Are corporate foundations required to file electronically the 2006 Form 990 or Form 990-PF?
Answer: Whether or not a corporate foundation is required to file electronically depends on a number of factors. Generally, only foundations with a substantial number of employees or consultants…
Legal Compliance Guidance
Question:
Can a company provide office space to the company foundation?
Answer:
A parent company can always provide the company foundation with office space as long as it does so free of charge. While it is even possible for the parent company and the foundation to share the cost of office space…
Handbook on Responsible Investment Across Asset Classes
External Resource
From the Boston College Center for Corporate Citizenship, this handbook on responsible investing provides the blueprint for foundation asset managers interested in multiplying their organization’s impact on society.
Case Study: Expanding Philanthropy - Mission-Related Investing at the F.B. Heron Foundation
External Resource
Prepared by the Southern New Hampshire University's School of Community Economic Development and available through Mission Investors Exchange, this case study explores the details of the F.B. Heron Foundation's rationale, exploration, and implementation of its mission-related investment strategy,…
Compounding Impact: Mission Investing by U.S. Foundations
External Resource
This report by FSG Social Impact Advisors provides the first comprehensive analysis of mission investing by U.S. foundations and analyzes the activity of 92 U.S. foundations, which have made a combined total of $2.3 billion of mission investments.
Mission Possible: Emerging Opportunities for Mission-Connected Investment
External Resource
From the New Economics Foundation, Mission Possible considers how foundations might more effectively use a proportion of their endowment in support of the change they set out to create – their mission. Starting from the premise that paths are made by walking, it explores the potential of ‘mission-…
Legal Compliance Guidance
Question
The same company representatives serve on our company foundation board of directors and our Corporate Contributions Committee. Can we hold the meetings for both programs simultaneously?
Answer
No. While it is possible to hold the meetings for the corporate giving program and company…
Honoring Grant Commitments amid Difficult Corporate Finances
Legal Compliance Guidance
Question:
In light of current economic conditions, the corporation has asked whether the company's private foundation may honor grant commitments already made by the corporate giving program. Can the private foundation make these grants?
Answer:
Maybe. The facts and circumstances surrounding the…
Corporate Foundation Grants to Government
Legal Compliance Guidance
Question: May corporate grantmakers make grants to units of government such as public schools or local parks departments?
Answer: Yes, both corporate giving programs and corporate foundations may make grants to units of government as long as the grants are restricted to charitable purposes.
What…