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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.
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…
The Council on Foundations' definition of “international grantmaking” includes grants made by U.S. foundations and corporations to overseas recipients as well as grants made to U.S.-based organizations operating international programs. This also includes grants made toward activities wholly within…
U.S. private foundations are increasingly involved in international grantmaking. One way for a private foundation to give overseas is to make grants directly to foreign charities. Many U.S. private foundations, however, may want to consider giving overseas indirectly through a "Friends of"…
What are the legal requirements for private foundations wishing to make cross-border grants?
What is equivalency determination?
What is expenditure responsibility?
How do I decide whether to use equivalency determination or expenditure responsibility?
What are 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…
Sample foreign grant expenditure responsibility letter.
This sample document is being provided for informational purposes and is not to be shared without the permission of the Council on Foundations. Use of the sample document does not create an attorney-client relationship, and the information…
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…