Legal Compliance Guidance

Legal Disclaimer

All information on this website, and all publications, articles, email correspondence, and telephone consultations provided by Council attorneys and legal staff are intended for informational purposes only and not as part of an attorney-client relationship. Council attorneys are not licensed in every state and cannot provide legal representation. The information is not a substitute for expert legal, tax, or other professional advice tailored to your specific circumstances and may not be relied upon for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code. Council members may email legal@cof.org with inquiries and for more information.

Displaying 129 - 133 of 133 results

Investment Management Practice Tips and Resources

Legal Compliance Guidance
Practice 1. The board (and investment committee and staff, if any) of a foundation should understand and fulfill their respective fiduciary responsibilities and duties under applicable law and the governing documents of the foundation and stay informed regarding any relevant changes in law, duties…

Working with a Donor's Investment Manager

Legal Compliance Guidance
“If I create a fund at the community foundation, can my investment manager still manage the funds?” You may have already come across a donor that asked this question. Such a donor is essentially requesting that the fund they create be invested outside of the foundation’s investment pool(s). While…

IRS Audit Survival Tips

Legal Compliance Guidance
Things to do NOW – “An Ounce of Prevention...” Review your organization’s activities – seems simple and basic, but the IRS will be certainly asking about them and the audit context is not the time to learn about someone’s pet project for the first time. Do you have documentation to establish the…

Explanation of Proposed Treasury Regulations: Reliance Standards for Making Good Faith Determinations of Equivalency Determinations

Legal Compliance Guidance
September 24, 2012 The Department of Treasury and the IRS issued proposed regulations applicable to private foundations seeking to make grants to foreign organizations using equivalency determinations. The guidance broadens the range of professionals on whose written advice a private foundation…

Analysis of Type III Supporting Organization Regulations Issued December 28, 2012

Legal Compliance Guidance
On December 28, 2012, the Treasury Department and IRS issued final and temporary regulations on Type III supporting organizations. Simultaneously, proposed regulations were issued regarding payout for Type III non-functionally integrated supporting organizations. This analysis focuses on the areas…

Questions?

Connect with Council Staff
Share on FacebookShare on TwitterShare on LinkedInShare on all