Legal Compliance Guidance

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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.

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Foundation Finance and Investment Management

Legal Compliance Guidance, Publication
A Chapter in Mastering Foundation Law: The Council on Foundations Compendium of Legal Resources This chapter examines Uniform Prudent Management of Institutional Funds Act (UPMIFA) and other laws that govern the management and investment of endowments and other foundation financial assets. It also…

Starting a Foundation: Formation and Considerations

Legal Compliance Guidance, Publication
Many people want to start foundations, but few start out knowing exactly what sort of organization they are going to create. The purpose of this e-book is to help potential donors understand the many different entities that are commonly referred to as foundations and to provide an understanding of…

An Overview of the Law Governing Community Foundations

Legal Compliance Guidance, Publication
A Chapter in Mastering Foundation Law: The Council on Foundations Compendium of Legal Resources This chapter is intended to examine and explain those common legal characteristics shared by community foundations and to provide a comprehensive legal overview of the rules and regulations that govern…

Rules of Advocacy & Lobbying

Legal Compliance Guidance
It is easy to get hung up on what you think you cannot do in terms of engaging with your policymakers. The good news is, you can do more than you may think! Though the law varies somewhat between what community and public foundations are allowed to do, versus what private foundations are allowed…

New Examples of Permissible Program-Related Investments

Legal Compliance Guidance
On April 25, 2016, the Treasury Department officially published final regulations providing nine new examples of permissible program-related investments (PRIs). The new examples were first drafted as foundations came to sense that the existing regulations were too narrow and did not adequately…

A Guide to Advocacy, Lobbying & Election Related Activity: Navigating the Rules

Legal Compliance Guidance, Publication
A Chapter in Mastering Foundation Law: The Council on Foundations Compendium of Legal Resources The purpose of this chapter is to help you understand the federal tax laws and regulations that govern how, when, and to what extent different types of foundations can engage with policymakers, their…

Expenditure Responsibility: Step by Step

Legal Compliance Guidance, Publication
A Chapter in Mastering Foundation Law: The Council on Foundations Compendium of Legal Resources Expenditure responsibility is the federally mandated procedure that a private foundation—and some public charities—must follow for any grant made to an organization that is not a public charity. This…

Mastering Foundation Law: The Council on Foundations Compendium of Legal Resources

Legal Compliance Guidance
The Council on Foundations's Compendium of Legal Resources (“Compendium”) is a comprehensive guide to foundation law for the non-lawyer. It is easy to use, self-directed, and regularly updated. The Council developed the Compendium as a direct response to requests from our members to publish…

Governance and Compliance Issues for Foundation Financial Management

Legal Compliance Guidance
This white paper provides a review of critical governance issues that foundations must consider to remain in compliance with prevailing and emerging laws and regulations. Readers can expect content focused on trustee fiduciary responsibilities as relates to duties of care, loyalty, and…

Legal Background on the Charitable Purpose of Donor Advised Funds

Legal Compliance Guidance
Donor advised funds are specifically defined in Section 4966(d)(2) of the Internal Revenue Code as a “fund or account which is separately identified by reference to contributions of a donor or donors, which is owned and controlled by a sponsoring organization, and with respect to which a donor…

Can My Foundation Fund Legal Aid for Individuals?

Legal Compliance Guidance
Legal aid provides assistance to people who would otherwise not be able to afford legal representation or access to the court system. While it is an integral part of the American justice system, especially to the most vulnerable in our society, many legal aid programs are unsustainable or have seen…

What is Expenditure Responsibility?

Legal Compliance Guidance
Expenditure responsibility is a five step procedure that is designed to ensure that foundation funds are used for exclusively charitable purposes. The five basic steps that are required for completing expenditure responsibility include: Conducting a pre-grant inquiry including a reasonable…

Expenditure Responsibility Chart for Private Foundations

Legal Compliance Guidance
This document is a tool to help you as a private foundation determine when to use expenditure responsibility for grants to public charities.

Record Retention for Foundations

Legal Compliance Guidance
Foundation recordkeeping is an inherently dull topic—unless it’s done wrong. The foundation manager who has not kept adequate documentation regarding expenditure responsibility grants risks an IRS audit. Similarly, a foundation manager confronted with a trustee succession battle will find the…

FAQ: Global Grantmaking

Legal Compliance Guidance, Fundamentals
What are the legal requirements for private foundations wishing to make cross-border grants? What is equivalency determination? What is expenditure responsibility? How do I decide whether to use equivalency determination or expenditure responsibility? What are the legal requirements…

FAQ: Scholarships

Legal Compliance Guidance, Fundamentals
What are the advantages, disadvantages, and likely costs of scholarship programs? What do the private foundation rules require, and how should community foundations apply the rules? What rules or procedures govern community foundation scholarship programs? Does a community foundation need to…

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