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Your giving program looks like a convenient vehicle for fulfilling personal charitable pledges. Here’s what you need to know about when to say “no.”
The board of the ABC Family Foundation is considering a number of suggested grants, including a contribution to the local symphony’s capital…
More than 120 “NIL collectives” have been established in the U.S., many of them as tax-exempt 501(c)(3) nonprofit organizations, to raise funds and enter into agreements that compensate student-athletes at specific higher-education institutions in exchange for using the student-athlete's name,…
Donor-Advised Funds (DAFs) have been a growth engine for community foundations since the 1990s but the aspiration today is for DAFs to do more. In Do More than Grow: Realizing the Potential of Community Foundation Donor-Advised Funds, new data and analysis of donor behavior reveals the significant…
The Pension Protection Act of 2006 includes the first comprehensive regulation of donor-advised funds. These requirements generally took effect at the beginning of the tax year following enactment of the Act, for charities that hold assets in such funds. However, a provision barring the payment…
Tax-exempt organizations must make annual returns and exemption applications filed with the IRS available for public inspection and copying upon request. In addition, the IRS makes these documents available. These FAQs relate to the public disclosure and availability of documents filed by tax-…
Every organization exempt under Section 501(c)(3) of the Internal Revenue Code is required to disclose certain information to the public:
The organization’s exemption application, Form 1023, is subject to public disclosure, along with any documents supporting the application and any letters…
What do you do when a grantee—or potential grantee—asks someone on your board or staff to sit on their board? Does such a request constitute a conflict of interest? Are there times when such a situation can actually benefit one or both of the organizations involved?
Let’s look at some of the…
This document outlines the basics of component funds, field of interest funds, donor-advised funds, and restrictions around these funds.
Imagine the following scenarios:
A donor advisor has not made a recommendation from a donor advised fund for two years.
An agency has requested that your community foundation not make a distribution from an agency endowment until the agency requests a distribution at some point in the…