This guide is for professional advisors whose clients want to formalize their charitable giving through a giving vehicle such as a Donor Advised Fund (DAF) or a private foundation. Experienced professional advisors know that helping clients find the best giving vehicle available for them creates a win-win situation. The clients will be happier with a vehicle that is a... Read More
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
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
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
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
It is becoming increasingly common for foundations to consider closing shop. While the reasons you’re contemplating this option may be straightforward, the process of closing can be complicated. The primer walks you through the strategy choices, tasks, and legal steps of closing shop so you can be confident that you know the main legal issue... Read More