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Donors and advisors are prohibited from receiving more than incidental benefits from grants made from their advised funds. Penalties apply to those who received a prohibited benefit, to those who recommended the grant, and, in some situations, to fund managers who approved the recommendation…
This chart details which organizations can receive grants from donor-advised funds and which ones cannot.
This resource is a Council Summary of IRS Interim Guidance found in IRS Notice 2006-109, issued December 6, 2006, and explains steps for determining supporting organization status, and important information on the employer disaster relief fund exemption.
Responding to requests from the Council…
The Treasury Department released its report on donor-advised funds (DAFs) and supporting organizations (SOs) in December of 2011. This report, mandated by the Pension Protection Act of 2006, was due in August 2007.
The report is 109 pages, including appendices, and is divided into five chapters…
A Toolkit for Community Foundations
“Impact investing” is the practice of investing for social and environmental impact while generating financial return. For community foundations, impact investing represents a new, complementary tool for achieving community change. Community foundations are…
Background
On August 2, 2023, American Alliance for Equal Rights (AAER) filed a complaint against Fearless Fund claiming their Fearless Striver Grant Contest grant program violates Section 1981 of the Civil Rights Act of 1866. According to the official rules listed on Fearless Fund’s…
Federal Policy Updates
Join fellow community foundation CEOs for a dynamic and insightful roundtable focused on the latest federal policy developments and its potential implications for philanthropy. This conversation will provide critical updates, offer space for peer exchange, and…
Donor-advised funds are specifically defined in Section 4966(d)(2) of the Internal Revenue Code as a “fund or account
which is separately identified by reference to contributions of a donor or donors,
which is owned and controlled by a sponsoring organization, and
with respect to which a…
In response to numerous articles in which some media outlets have mischaracterized the intent and impact of donor-advised funds, the Council on Foundations released the following joint statement from interim president and CEO Gene Cochrane and Javier Alberto Soto, chair of the Council’s board of…
The Council is hosting a series of monthly Member Policy Briefings as a forum for philanthropic leaders to navigate the shifting landscape. This briefing is exclusively for CEOs, Presidents, or Executive Directors of community foundations.