Resources

Topic: “Tax and Legal”

Legal Essentials for Small Foundations

Managing a foundation is fantastic work. However, foundation management also requires complying with a myriad of laws that oversee grantmaking, investment strategies, public disclosures, and more. This primer summarizes some of the most important laws related to managing a foundation. It covers legal issues related to the following topics: Grantmaking Operations and administration Investments It... Read More

How to Start a Private Foundation

Private foundations, if operated correctly, can provide significant benefits to individuals, families, and companies. Private foundations also provide tax benefits to taxpayers and enable them to build a long-lasting tradition of charitable giving. This primer offers an overview of private foundations and can help you: Educate yourself about various charitable vehicles. Determine the type of... Read More

Webinar Recording
Self-Dealing and Conflicts of Interest (featuring Darren B. Moore)

Self-dealing is prohibited; conflicts of interest can be managed. But the intricacies of the two can be confusing. In this webinar, led by attorney Darren B. Moore of Bourland Wall & Wenzel, find clear, easy-to-follow steps to help you recognize each, avoid self-dealing, and manage conflicts of interest. Learn the laws, discuss common situations and... Read More

How to Avoid Self-Dealing

Self-dealing rules, which prevent foundations from entering into a broad range of dealings with foundation insiders, were developed to ensure foundation assets are only used for charitable purposes. However, these complex rules can be violated without foundation staff members even knowing it. This primer will: Help you know the rules, so you can avoid breaking... Read More

Financial Reporting for Private Foundations: A Uniform System

Foundation boards and their accountants often use different formats for financial statements. In response, a group of experienced foundation financial officers, CPAs, and attorneys developed a uniform financial reporting system as a model for any private foundation. This uniform system can: Help your foundation prepare your Form 990-PF. The statements were created with the Form... Read More

Filing the Form 990-PF

How do you know if your foundation’s Form 990-PF is true, correct, and complete? Can you simply assume an accountant will get it right? Unfortunately, the answer is no. In fact, regulators estimate that at least 25% of all 990-PFs have errors. Despite this statistic, there is hope. This primer highlights problem areas, offers tips,... Read More