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Question: Are corporate foundations required to file electronically the 2006 Form 990 or Form 990-PF?
Answer: Whether or not a corporate foundation is required to file electronically depends on a number of factors. Generally, only foundations with a substantial number of employees or consultants…
Audits are everywhere these days. Consider:
In the wake of corporate accounting scandals, the Sarbanes-Oxley Act was enacted in 2002, imposing corporate governance reforms on public, for-profit companies, including provisions on how financial audits are managed and carried out by auditors.…
Electronic Filing: While the requirements regarding electronic filing of Forms 990 and 990-PF have not changed, the electronic filing requirement for some organizations is still relatively new. For that reason, you may want to revisit the mandatory electronic filing rules to determine whether your…
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…
There is always the temptation, particularly among newly established community foundations, to accept any type of contribution. When a contribution consists of property other than cash, however, it must be determined if it is in the community foundation’s best interests to accept such property. Are…
A donor is considering starting a fund at the community foundation using a piece of jewelry instead of a cash gift. The jewelry cost her $1,000 (35 years ago) and is now worth $20,000. May the community foundation accept the gift? What documentation must the community foundation prepare? From the…
Community foundations occasionally receive a request for money back from donors of advised funds and organizations that have established designated funds or agency endowments. This article discusses why the proper answer is a firm "no"—and some polite ways to communicate the community foundation's…
Most states have registration and/or reporting laws that apply to nonprofit organizations soliciting contributions within the state. Information about registration is available through individual states or the Multi-State Filer Project.