All Resources

Ordinarily, established private foundations and public charity grantmakers would ignore the IRS's revision of Form 1023, Application for Recognition of Exemption from Federal Income Tax. After all, these groups have already received their determination letters. But the revised Form 1023 and the…

This article focuses on conflicts of interest around foundation investments. May foundation board members (or other closely affiliated individuals or businesses) manage foundation investments? May they be paid for this service? What factors should foundation managers consider before they select an…

This article explores one of the more common questions about conflicts of interest: May the foundation's lawyer serve as a trustee? Foundation Lawyer/Trustee Often, the lawyer who drafted a foundation's organizing documents stays on as counsel to the organization. He or she may be asked to serve…

Directors & Officers liability insurance provides financial protection for a foundation and its directors, officers, employees, and volunteers in the event of a lawsuit. Does your foundation need D&O insurance? A foundation doesn't have to be in the wrong to be sued. D&O insurance…

A look at some of the legal and non-legal aspects of merging one charitable program or organization with another. Ray S. Munney, executive director of the Zenith County Community Foundation, had three meetings scheduled Tuesday morning. The first was with the new manager of a local corporation's…

There's more to closing down a private foundation than packing up and turning off the utilities. Here are some questions, considerations, and IRS directions. Sometimes it is time for a private foundation to disappear—assets may have dwindled significantly or family members no longer share a…

Imagine the following scenarios: A donor advisor has not made a recommendation from a donor advised fund for two years. An agency has requested that your community foundation not make a distribution from an agency endowment until the agency requests a distribution at some point in the future.…

Over the past decade or so, economies have become more global and the tools for communicating news from around the world have become more effective and timely in reporting global events via the internet, video and text messaging, Twitter, and Facebook, to name but a few of these tools. Foundations…

This document outlines the basics of component funds, field of interest funds, donor-advised funds, and restrictions around these funds.

The intermediate sanctions rules prohibit tax-exempt organizations from providing more than fair market value economic benefits to their “disqualified persons.” The intermediate sanctions rules apply to all section 501(c)(3) and section 501(c)(4) organizations except for private foundations, which…

The Stewardship Principles for Family Foundations encourage foundations to provide orientation and training for new board members and professional development for existing board members and staff. They also encourage planning for leadership continuity through activities that identify, educate and…

What do you do when a grantee—or potential grantee—asks someone on your board or staff to sit on their board? Does such a request constitute a conflict of interest? Are there times when such a situation can actually benefit one or both of the organizations involved? Let’s look at some of the pros…