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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…
Gifts from private foundations to field of interest funds, designated funds, and other funds that are not donor-advised, are entirely permissible and do not raise special concerns. Gifts to a donor-advised fund can raise red flags as a potential donor control issue. The law does not prohibit gifts…
Donor-advised funds are increasing in number and importance in the U.S. as more individuals, families, and organizations adopt this vehicle of philanthropic giving. A donor-advised fund enables a third party, usually a community foundation or other institution, to manage and distribute funds to…
Can a 501(c)(3) organization with a donor-advised fund at a community foundation make a distribution to itself?
Unfortunately, when the law changed under the Pension Protection Act of 2006, this was left unclear. Intermediate sanctions rules prohibit grants and similar payments to donors from a…
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,…
A multi-state settlement agreement between PayPal Charitable Giving Fund (PPGF) and almost two-dozen states was announced to address issues of transparency and PPGF’s website disclosures. One notable area about which state regulators raised concerns was disclosure by PPGF of the fact that PPGF…
https://cof.org/content/grants-organizations-donor-advised-funds-expenditure-responsibility-required
Use this flowchart to determine if grants from donor-advised funds require expenditure responsibility.
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…
The Pension Protection Act of 2006 includes the first comprehensive regulation of donor-advised funds. These requirements generally took effect at the beginning of the tax year following enactment of the Act, for charities that hold assets in such funds. However, a provision barring the payment…
Keeping donors interested and excited about their philanthropy is a fundamental task for a community foundation. After all, donors are your best source for additional gifts and larger “legacy” gifts in the future.
Community foundations provide donor services to achieve two main goals - to keep…