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There's more to closing down a private foundation than packing up and turning off the utilities. Here are some questions, considerations, and IRS directions.Sometimes it is time for a private foundation to disappear—assets may have dwindled significantly or family members no longer share a common…
In September 2023, a group of 15 foundations joined 20 bilateral donors in signing a Donor Statement committing to advancing locally led development. After recent global shifts in foreign assistance and the dismantling of USAID, the Council on Foundations wanted to understand how philanthropy has…
Does the Council on Foundations provide assistance with starting a foundation?
Can we join the Council before our foundation is formed?
What are the general steps in starting a foundation?
Should we set up our foundation as a trust or a corporation?
What are the costs of starting a…
https://cof.org/content/grants-organizations-donor-advised-funds-expenditure-responsibility-required
Use this flowchart to determine if grants from donor-advised funds require expenditure responsibility.
Expenditure responsibility is a five step procedure that is designed to ensure that foundation funds are used for exclusively charitable purposes.
The five basic steps that are required for completing expenditure responsibility include:
Conducting a pre-grant inquiry including a reasonable…
Over the last two weeks, we’ve received scores of questions from the field about how to help the Ukrainian people during the ongoing Russian invasion, including during our recent webinar with the State Department. The outpouring of support and willingness to make immediate relief funds available…
This page outlines the range of purposes that qualify an organization for tax exemption under section 501(c)(3) of the Internal Revenue Code. It explains how the IRS and courts interpret key terms — especially "charitable" — and how those interpretations shape eligibility.
Permissible Exempt…
Self-Defense Exception: A legislative proposal to modify the private foundation excise tax on net investment income under IRC section 4940 would qualify as a self-defense issue, because it affects a private foundation’s duties. Private foundations may therefore communicate with the legislature, its…
Foundations have been partnering with USAID in a variety of ways to advance locally led development, and below are how some of those partnerships are being executed. For member foundations interested in working with USAID on their own locally led development initiatives, Council on Foundations…
Navigating Disasters and Crises: A Practitioner Playbook for Corporate Responsibility and Philanthropy is a free resource designed to guide corporate leaders through navigating disasters and crises at a time when disaster response has grown more comprehensive and complex. It provides a new…