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During the pandemic, many of us expected the stock market would fare poorly, that there would be long lines at food pantries, and that public health systems would be overwhelmed. Many of us did not expect to see record levels of unemployment, widespread permanent closures of small businesses, or…
Community foundations that award scholarships and other grants to individuals from funds with donor involvement should be sure these funds comply with the requirements of the Pension Protection Act of 2006.
The PPA prohibits grants to individuals from funds that meet the fairly broad definition…
When donors to scholarship funds see the impact that their money can have on the life of a student, they are often inspired to contribute more. Sometimes they will add more to the principal of the fund so that future awardees can receive bigger scholarships or more scholarships can be awarded.…
What are the advantages, disadvantages, and likely costs of scholarship programs?
What do the private foundation rules require, and how should community foundations apply the rules?
What rules or procedures govern community foundation scholarship programs?
Does a community foundation need…
Family foundations use discretionary grantmaking to achieve a variety of purposes. Discretionary grantmaking allows some foundations to avoid strife by giving each branch of the extended family a sum of money that it can think of as its own to control. For others, a discretionary fund provides…
Generally, there is no legal restriction against making grants to churches, synagogues, mosques or other religious institutions. But there are some things foundations interested in such grantmaking should know.
For years, private foundations and public charities have recognized religious…
Question: May a private corporate foundation or corporate giving program make a grant to a newly-established charity that has not yet received its IRS tax exemption letter?
Answer: Yes, but when making a grant to a charity whose application for exempt status is pending before the IRS, a private…
With a little caution, community foundations can support the charitable activities of non-charities.
A chamber of commerce requests a grant to start a computer-training program.
A gardening club asks for money to cover a local beautification project.
A cemetery association seeks support…
Can we back out of a multiyear commitment we made in a prior year because our foundation’s assets have declined?
The answer in many cases is “no.” That is, unless your grantee is willing to release your foundation from its obligation.
Generally, an unconditional, multiyear grant is considered…