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Bringing Funds Into Compliance
The Pension Protection Act of 2006 (PPA) includes the first comprehensive regulation of donor-advised funds. For the first time, donor-advised funds are legally defined. The legal definition is important for grantmakers that operate various kinds of component funds…
A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
This chapter is intended to examine and explain those common legal characteristics shared by community foundations and to provide a comprehensive legal overview of the rules and regulations that…
Many people want to start foundations, but few start out knowing exactly what sort of organization they are going to create. The purpose of this e-book is to help potential donors understand the many different entities that are commonly referred to as foundations and to provide an understanding of…
Question: Our corporate foundation is planning to establish a scholarship fund for our employees' children. What do we need to keep in mind and what steps do we need to follow to ensure we are complying with the legal requirements?
Response: The granting of scholarships, fellowships, and…
Question
The same company representatives serve on our company foundation board of directors and our Corporate Contributions Committee. Can we hold the meetings for both programs simultaneously?
Answer
No. While it is possible to hold the meetings for the corporate giving program and…
Question:
Can a company provide office space to the company foundation?
Answer:
A parent company can always provide the company foundation with office space as long as it does so free of charge. While it is even possible for the parent company and the foundation to share the cost of office…
Question: Why do Council on Foundations membership materials and invoices state that if my foundation and corporate giving program share a membership, dues must be paid by the corporation? Is this true for other memberships as well?
Answer: IRS self-dealing rules prohibit private foundations (…
From the Family Foundation Advisor, this article reviews the sunset-vs.-perpetuity issue and considers the potential benefits of a sunset date, with the special considerations of small family foundations in mind.
Slide presentation reviewing the basics of avoiding self-dealing as a family foundation.
Download the Presentation Slides
With the Stanislaus Community Foundation, National College Access Network (NCAN), and the Council on Foundations' Legal Team and Director of Community Philanthropy, this webinar explores key findings from a recent white paper published by NCAN on the topic…