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The legal and tax implications for community foundations accepting donations from private foundations, and qualifying distributions of taxable expenditures. Additional insight into converting a private foundation into a supporting organization of a community foundation.
This handy flowchart can help you determine which funds should be classified as donor-advised under the Pension Protection Act of 2006. Remember, a fund is only a donor-advised fund if:
A donor or person appointed or designated by the donor has, or reasonably expects to have, advisory…
The Congressional Research Service issued a 2012 report on charitable giving and donor-advised funds. Using data from Form 990, the report updates to 2008 some of the statistical information about donor-advised funds that was included in the 2011 Treasury report on donor-advised funds. However, the…
Under the Pension Protection Act of 2006 (PPA), the private foundation excess business holdings rule applies to donor-advised funds as if they were private foundations.1 That is, the holdings of a donor-advised fund in a business enterprise, together with the holdings of persons who are…
The Pension Protection Act of 2006 created new categories of disqualified persons for donor advised funds and sponsoring organizations under the intermediate sanctions rules.
Categories of Disqualified Persons Created under the PPA
Donors and donor advisors with regard to transactions with…
Donors and advisors are prohibited from receiving more than incidental benefits from grants made from their advised funds. Penalties apply to those who received a prohibited benefit, to those who recommended the grant, and, in some situations, to fund managers who approved the recommendation…
This chart details which organizations can receive grants from donor-advised funds and which ones cannot.
Contributions of clothing and household items
Section 1216 of the Pension Protection Act of 2006 (PPA) imposes requirements for contributions of clothing and household items to charity. The provision is effective for contributions made after the date of enactment (August 17, 2006).
In general…
With the pace of change in our world, disruption is a natural state in communities everywhere. Change is the new normal. So how do community foundations, institutions of long-standing tradition that are influential in how communities address change, adapt themselves to the new normal?…