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It is extremely rare for an organization to lose its tax-exempt status. When it happens, it's typically the end result of a three-step process: (1) The IRS conducts an examination of the tax-exempt organization; (2) the IRS issues a letter to the organization proposing revocation; then (3) the…

Internal Risk Management for Foundations In response to the ongoing changes to the legal and policy landscape, it has become increasingly important for foundations and charitable nonprofits to engage best practices for mitigating their potential legal and operational risks. We worked with outside…

Overview The Council is committed to helping our members stay informed about litigation that may have an impact on the philanthropic sector. This resource is designed to be a guide to cases that could impact the operations of foundations and other grantmaking organizations. For a more…

Individual Retirement Accounts (IRA) Gifts and Qualified Charitable Distributions (QCDs) May a donor make a QCD from an IRA to their donor-advised fund (DAF) or someone else’s DAF? What happens if a donor chooses to transfer money from their IRA into a DAF? Do we have to tell them they have…

What is Section 1981? Does the outcome of this case set a new standard for grants that are race-based or race-conscious? If so, why? How will this settlement impact a foundation’s ongoing commitment to DEI within their grantmaking? Will the settlement impact foundations collection of…

More than 120 “NIL collectives” have been established in the U.S., many of them as tax-exempt 501(c)(3) nonprofit organizations, to raise funds and enter into agreements that compensate student-athletes at specific higher-education institutions in exchange for using the student-athlete's name,…