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January 2, 2017
See the Council's statement on the passage of the final tax reform bill - December 20, 2017.
See the Council's joint statement with Independent Sector and National Council of Nonprofits - December 16, 2017.
Having passed different versions of tax reform in the House (H.R.1…
Expenditure responsibility is a five step procedure that is designed to ensure that foundation funds are used for exclusively charitable purposes.
The five basic steps that are required for completing expenditure responsibility include:
Conducting a pre-grant inquiry including a reasonable…
(ARLINGTON, VA, December 20, 2017) Today, the Council on Foundations released the following statement from President and CEO Vikki Spruill:
“During a season when families and communities are coming together to find ways to give back and help those most in need, the House and Senate have…
A multi-state settlement agreement between PayPal Charitable Giving Fund (PPGF) and almost two-dozen states was announced to address issues of transparency and PPGF’s website disclosures. One notable area about which state regulators raised concerns was disclosure by PPGF of the fact that PPGF…
Issue
The private foundation excise tax, which private foundations pay on net investment income annually, is currently a flat rate of 1.39 percent. This percentage took effect in the 2020 tax year after legislation simplified the two-tiered system to a flat rate.
Council’s Policy Position…
https://cof.org/content/grants-organizations-donor-advised-funds-expenditure-responsibility-required
Use this flowchart to determine if grants from donor-advised funds require expenditure responsibility.
As needs in their communities continue to grow, community foundations recognize the importance of making the right investment decisions. That’s because good investments help attract donors, preserve the long-term purchasing power of assets, and increase the amount of money available for grantmaking…
Grants to Public Charities from Private Foundations
For a private foundation, disaster relief grants to Section 501(c)(3) public charities based at home or abroad can be relatively straightforward, provided the grantee is not legally classified as a supporting organization.
If the grantee is…
The Congressional Research Service issued a 2012 report on charitable giving and donor-advised funds. Using data from Form 990, the report updates to 2008 some of the statistical information about donor-advised funds that was included in the 2011 Treasury report on donor-advised funds. However, the…
Grants to Public Charities from a Public Charity
Unless from a donor-advised fund, disaster relief grants to domestic section 501(c) (3) public charities do not present special issues.
Grants from a Donor-Advised Fund
Disaster relief aid can be provided through a donor-advised fund…