Grants to Individuals

FAQs

  • Can private foundations make grants to individuals and if so, what are the rules?

  • What are the IRS requirements when giving grants to individuals?

  • What are the tax reporting rules for grants to individuals?

  • On what basis does the IRS approve of a foundation’s scholarship program?

  • How long does it take the IRS to grant approval for a scholarship program?

  • What are the recordkeeping requirements for grants to individuals?

  • What are the tax reporting rules for making a grant to an individual for services rendered?

  • Does our foundation have to have IRS approval for all types of grants to individuals?

  • We have an IRS determination letter, but now want to make scholarships. Is special approval needed?

  • We are interested in making scholarships, but our governing documents prohibit it. What can we do?

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