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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?…
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…
Note to the Program Officer
The scope of the program officer job description has evolved. Where it was once primarily tactical—reviewing funding requests and developing requests for proposals—the program officer’s role more commonly includes strategic activities. Program officers must master…
The 2016 Administrative and Program Expense Tables provide foundations with tools to benchmark their expenses – charitable administrative, program service, and qualifying distributions – against peers in the field. Containing data collected through the Council’s 2016 Grantmaker Salary and Benefits…
Question: May a private company foundation support the volunteer activities of the sponsoring corporation's employees?
Answer: Company foundations sometimes play a role in coordinating volunteer activities of the sponsoring corporation's employees. The IRS has approved company foundations'…
Foundation recordkeeping is an inherently dull topic—unless it’s done wrong. The foundation manager who has not kept adequate documentation regarding expenditure responsibility grants risks an IRS audit. Similarly, a foundation manager confronted with a trustee succession battle will find the…