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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…
It is an unfortunate reality of our times that foundations must respond all too often to mass casualty events in their communities. There are immediate questions that need to be addressed and an ongoing crisis to manage if your foundation is going to raise and deploy philanthropic capital in…
A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
In the United States, organizations that qualify to receive charitable tax-deductible contributions are described in Section 501(c)(3) of the Tax Code. These organizations are divided into two main…
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…
You may wonder whether you can make grants to GoFundMe campaigns that are supporting localized efforts during disasters. Proceed cautiously: GoFundMe and many similar crowdfunding platforms are not registered 501(c)(3) public charities, and therefore you need to examine carefully if the campaigns…
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…
Understanding the challenges of currency fluctuations on international grantmaking, and taking action to minimize their impact can ensure that this natural process does not become an added barrier to overseas giving. This resource focuses on some of the challenges foundations and giving programs…
IRS Notice 2020-23, issued on April 9, 2020, clarifies that tax-exempt organizations are fully included in COVID-19 relief. Specifically, the filing and tax payment deadlines for IRS Form 990 series (990, 990-EZ, 990-PF, and 990-T) normally due between April 1, 2020 and July 15, 2020 are…
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…
Lawyers rarely tell foundation managers, "Relax, don’t worry so much!" But in the case of "tipping," that’s been our advice for more than 10 years. What is the so-called "tipping problem" and why are so many foundations (still) so worried about it?
Tipping occurs when a private…