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Things to do NOW – “An Ounce of Prevention...”
Review your organization’s activities – seems simple and basic, but the IRS will be certainly asking about them and the audit context is not the time to learn about someone’s pet project for the first time. Do you have documentation to establish…
By Susan E. Budak and Susan N. Gary
The widespread adoption of the Uniform Prudent Management of Institutional Funds Act (UPMIFA) across the country has already been of great help to charities, in part because the financial markets collapsed just months after the uniform act was approved. Most,…
This memorandum considers whether adoption of the Uniform Prudent Management of Institutional Funds Act (UPMIFA) requires changes to existing guidance regarding the reporting and classification of assets held by community foundations. Current guidance is incorporated in a 1997 memorandum, Report on…
Tax-exempt organizations must make annual returns and exemption applications filed with the IRS available for public inspection and copying upon request. In addition, the IRS makes these documents available. These FAQs relate to the public disclosure and availability of documents filed by tax-…
Every organization exempt under Section 501(c)(3) of the Internal Revenue Code is required to disclose certain information to the public:
The organization’s exemption application, Form 1023, is subject to public disclosure, along with any documents supporting the application and any letters…
What are the administrative/legal requirements for matching gift programs?
Is there a minimum or maximum to the corporation's or foundation's match?
Are there any gifts that should not be matched?
What kind of gifts can the corporation or foundation match?
What about matching gifts to…
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…
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…
A development plan outlines a foundation’s goals and strategies for developing resources. It explains how staff, board members, and other volunteers should focus their development efforts within a certain period (usually one or two years). A development plan also helps measure progress in the midst…