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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…
This handy flowchart can help you determine which funds should be classified as donor-advised under the Pension Protection Act of 2006. Remember, a fund is only a donor-advised fund if:
A donor or person appointed or designated by the donor has, or reasonably expects to have, advisory…
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…
Question: May corporate grantmakers make grants to units of government such as public schools or local parks departments?
Answer: Yes, both corporate giving programs and corporate foundations may make grants to units of government as long as the grants are restricted to charitable purposes.…
Webinar Recording: National Trust for Historic Preservation: African American Cultural Heritage Fund
The events in Charlottesville and the subsequent debates regarding the treatment of monuments and memorials to Confederate leaders and heroes has contributed to further divisions within our society. Many of our communities are grappling with these issues and seeking ways to bridge the…