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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…
A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
This chapter examines Uniform Prudent Management of Institutional Funds Act (UPMIFA) and other laws that govern the management and investment of endowments and other foundation financial assets. It…
A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
This chapter addresses what foundations should expect from an audit. Nonprofits, including private foundations, are bracing for an uptick in audit activity from the Internal Revenue Service (IRS) as…
The Pension Protection Act of 2006 (PPA) increased the excise tax rates for violations of many of the private foundation rules. In most cases, the first-tier taxes were doubled. These changes are effective for private foundations upon the foundation’s first tax year beginning after August 17, 2006…
Question: Our staff just received a request for a copy of our foundation's Form 990-PF. Are we required to provide this information?
Answer: Yes. A foundation’s tax return on Form 990-PF provides a wealth of information about the organization including asset size, board members, salary…
Question:
Our company foundation sometimes carries out its own charitable programs. For example, last year we organized a conference on the topic of evaluating program impact for our grantees and other nonprofits in one of our communities. Where does this information get reported on our Form…
The following content was writen by Michael Seltzer and originally appeared in Philanthropy News Digest, a service of Candid.
While media outlets — both online and print — have been quick to offer suggestions as to how individuals should channel their charitable impulses to help…
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…
View the Webinar Slides
Community Foundations: Gearing up for Year-End
Spend 90 minutes with the Council's legal staff to explore topics associated with year-end. As well, take a moment out to celebrate #CFWeek and gear up for #GivingTuesday!
Topics Include:
Year-end…