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The steps of expenditure responsibility are the federally-mandated procedures a private foundation (and DAFs) must follow for any grant made to a non-charity. While the rules for exercising expenditure responsibility are relatively straightforward, many issues and concerns can…
Today’s political climate poses unique challenges for community foundations, particularly as local communities and nonprofits deal with changes in their communities caused by budget cuts across a variety of programs. But the challenges also pose huge opportunities to fine-tune your organization’s…
This document is a customizable gift acknowledgement letter for an IRA transfer.
This sample document is being provided for informational purposes and is not to be shared without the permission of the Council on Foundations. Use of the sample document does not create an attorney-client…
Sample policies for gift acceptance, including ethical standards, who has authority to accept gifts on behalf of the foundation, types of gift assets, and more.
This sample document is being provided for informational purposes and is not to be shared without the permission of the Council on…
The IRS published 45 FAQs related to virtual currency (Bitcoin and other cryptocurrency), and foundations should note two of these questions address charitable acknowledgment of such gifts as well as IRS reporting requirements.
Briefly, a contemporaneous written acknowledgment is required…
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…
Operating endowments can provide stability and long-term sustainability for community foundations. They can also provide resources that enable foundation leaders to play a stronger leadership role in the community and direct resources to the most pressing issues. Developing and executing an…
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.…