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September 24, 2012
The Department of Treasury and the IRS issued proposed regulations applicable to private foundations seeking to make grants to foreign organizations using equivalency determinations. The guidance broadens the range of professionals on whose written advice a private foundation…
In international grantmaking, private foundations often make grants to organizations (“Initial Grantees”) that, in turn, re-grant those funds to other non-public charity organizations or individuals (“Secondary Grantees”).
Legal issues arise when a private foundation makes a grant to an Initial…
Private foundations wishing to make a cross-border grant must ensure that:
The grant is clearly for a charitable purpose, and
The grant counts as a qualifying distribution for the purpose of meeting the foundation’s annual distribution requirement.
The easiest way for a private…
Ideally, grantmakers will work with an existing charity or other well-established organization to provide disaster relief. But in the months after a disaster, it is not uncommon to see new charities cropping up in efforts to meet the immense and diverse needs of the affected communities. The…
Responding to requests from the Council on Foundations and Independent Sector, the Internal Revenue Service on December 4, 2006 issued interim guidance on several of the donor-advised fund issues arising from the Pension Protection Act of 2006. The IRS notice is available at http://www.irs.gov/pub/…
Grants to Public Charities from a Corporate Giving Program
Businesses can make disaster relief grants directly from the corporation, or from its corporate giving program, to any section 501(c)(3)public charity. An added plus is that such gifts are eligible as charitable deductions for the…
Public foundations, community foundations and corporate giving programs may establish a matching gifts program that will match disaster relief gifts made by employees or other donors living in the U.S. or anywhere in the world, provided the grantees are public charities based in the U.S., and gifts…
In the aftermath of a disaster or in other emergency hardship situations, individuals, employers, and corporations are often interested in providing assistance to victims through a charitable organization. The IRS provides a number of resources to help those involved in providing disaster relief…