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IRS Notice 2020-23, issued on April 9, 2020, clarifies that tax-exempt organizations are fully included in COVID-19 relief. Specifically, the filing and tax payment deadlines for IRS Form 990 series (990, 990-EZ, 990-PF, and 990-T) normally due between April 1, 2020 and July 15, 2020 are…
Understanding the challenges of currency fluctuations on international grantmaking, and taking action to minimize their impact can ensure that this natural process does not become an added barrier to overseas giving. This resource focuses on some of the challenges foundations and giving programs…
The Grantmaker Salary and Benefits Report (GSB) provides salary, benefits, and diversity data for full-time staff at U.S. foundations to aid in budget planning and personnel practice benchmarking. Information is presented by grantmaker type, foundation type, asset size, and geographic location.…
Drawing from data provided by 952 institutional responses, the 2021 GSB Key Findings highlights important human resource trends that are shaping the philanthropic sector. This year’s key findings feature the voices of human resources and operations leaders from community foundations,…
A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
In the United States, organizations that qualify to receive charitable tax-deductible contributions are described in Section 501(c)(3) of the Tax Code. These organizations are divided into two main…
Audits are everywhere these days. Consider:
In the wake of corporate accounting scandals, the Sarbanes-Oxley Act was enacted in 2002, imposing corporate governance reforms on public, for-profit companies, including provisions on how financial audits are managed and carried out by auditors.…
Community foundations have proven themselves to be cornerstones of support to the community, especially in times of need and disaster. When emergencies or disasters strike, the Foundation must be well-prepared to quickly and effectively help itself in order to be able to help others.
This…
Lawyers rarely tell foundation managers, "Relax, don’t worry so much!" But in the case of "tipping," that’s been our advice for more than 10 years. What is the so-called "tipping problem" and why are so many foundations (still) so worried about it?
Tipping occurs when a private…
The Grantmaker Salary and Benefits Report (GSB) provides salary, benefits, and diversity data for full-time staff at U.S. foundations to aid in budget planning and personnel practice benchmarking. Information is presented by grantmaker type, foundation type, asset size, and geographic location.…