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A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
This chapter examines Uniform Prudent Management of Institutional Funds Act (UPMIFA) and other laws that govern the management and investment of endowments and other foundation financial assets. It…
A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
This chapter addresses what foundations should expect from an audit. Nonprofits, including private foundations, are bracing for an uptick in audit activity from the Internal Revenue Service (IRS) as…
The Pension Protection Act of 2006 (PPA) increased the excise tax rates for violations of many of the private foundation rules. In most cases, the first-tier taxes were doubled. These changes are effective for private foundations upon the foundation’s first tax year beginning after August 17, 2006…
A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
This chapter discusses the federal tax laws governing supporting organizations. As a result of the Tax Reform Act of 1969, private foundations receive considerably less favorable treatment under tax…
One year ago today, our nation was rocked by the horrific attack at the Pulse nightclub in Orlando, Florida. In a message expressing our solidarity with those affected by the attack, we noted that it was particularly tragic because this event occurred at a lesbian, gay, bisexual, transgender, and…
Question: Our staff just received a request for a copy of our foundation's Form 990-PF. Are we required to provide this information?
Answer: Yes. A foundation’s tax return on Form 990-PF provides a wealth of information about the organization including asset size, board members, salary…
In This Week's Edition of Snapshot…
Tax Reform Update: Congress must address a packed agenda before getting to tax reform
“Johnson Amendment” may be discussed in House hearing
DOE aims to reduce regulations following EO
President Trump unveils infrastructure plan in…
Today, the Council on Foundations released the following statement from President and CEO Vikki Spruill:
“Today’s introduction of the ‘Charities Helping Americans Regularly Throughout the Year Act of 2017’ (CHARITY Act, S. 1343) is a welcome step towards protecting and…
Question:
Our company foundation sometimes carries out its own charitable programs. For example, last year we organized a conference on the topic of evaluating program impact for our grantees and other nonprofits in one of our communities. Where does this information get reported on our Form…
In Star Wars, Episode IV (still the best one in my opinion!), when the Death Star looms large in front of the Millenium Falcon, Luke Skywalker mutters, “I have a very bad feeling about this.”
When it comes to federal regulation of donor advised funds, I’m beginning to feel the…