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Explains the federal tax law for organizations such as charities and churches that receive tax-deductible charitable contributions, and for taxpayers who make contributions.
What requirements must our foundation follow for substantiating contributions to donor-advised funds?
To claim a charitable, gift or estate tax deduction for any contribution to a donor-advised fund, donors must obtain a contemporaneous written acknowledgement from the sponsoring organization…
With the pace of change in our world, disruption is a natural state in communities everywhere. Change is the new normal. So how do community foundations, institutions of long-standing tradition that are influential in how communities address change, adapt themselves to the new normal?…
Under the Pension Protection Act of 2006 (PPA), the rules for public disclosure of the Form 990-T by public charities and private foundations became identical to those for Form 990.
Which forms are affected?
Any Form 990-T filed after August 17, 2006.
What are the public disclosure…
In Notice 2007-21, the Treasury Department and IRS requested comments on issues relating to the organization and operation of donor-advised funds and supporting organizations, to be included in a study of these organizations. The resulting report includes a detailed discussion of the legal…
What is the Sarbanes-Oxley Act?
The Sarbanes-Oxley Act of 2002 was designed to rebuild public trust in the corporate community in the wake of the Enron scandal and other corporate and accounting scandals. Sarbanes-Oxley requires publicly traded companies to adhere to governance standards that…
One of the greatest challenges encountered in thinking about evaluation is that there usually is more than one acceptable way to evaluate a given grant, project, or program.
The form that an evaluation takes and the products that it yields will depend on choices made about the following issues…
As different as foundations can be from one another, they all share the need to know what works and, especially, what works well. The more foundations can show how their grants are making a difference, the more value they can bring to their communities.
To know what works, foundations must…
A family foundation's legal responsibilities for monitoring, assessing, or evaluating the grants it makes to organizations with 501(c)(3) tax exempt status are minimal. The IRS requires little in the way of detailed reporting on the outcome of specific grants—except for grants to organizations that…