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Results for:   Type: “Private Foundations”  

What You Need to Know About the “Tax Act”

Legal insights provided by Arnold & Porter On December 22, 2017, President Trump signed a new tax bill into law, informally referred to as the Tax Cuts and Jobs Act (the “Tax Act”). Although several proposals were dropped from the legislation, the Tax Act contains a number of provisions relating to charitable giving and tax-exempt... Read More

Transform Your Bookkeeping With These Simple T’s

Producing audit ready financial records for a private foundation can be an intimidating task—even for financial professionals. With fiscal year-ends that may differ from a calendar year (they do at roughly 50% of private foundations according to Thomas F. Blaney, CPA, CFE and partner, director of foundation services at PKF O’Connor Davies)—there often is no simple... Read More

How Planning to Close Her Foundation’s Doors Was the Right Business Model

The first blog in a 3-part series  When Fran Sykes, founder and president of Pascale Sykes Foundation, tells people she is purposely closing her foundation’s doors in four years as a conscientious business strategy, people seem puzzled. Why would anyone purposely go out of business? Like many foundations, Pascale Sykes was originally established in perpetuity.... Read More

Increase Foundation Cash Flow, Conservatively

Kelly is a foundation trustee who, during a recent review of the foundation’s investment portfolio, learned that income generated by the portfolio was not enough to fund the foundation’s charitable activities—the required 5% annual distribution. Although the portfolio’s returns were good, cash flow was an issue. Kelly wondered about a conservative way to generate cash... Read More

Good Meetings Require Good Ground Rules

A man named Henry was once asked to chair a meeting at his local church. A seasoned military officer and engineer, he was embarrassed when conflict erupted and he lost control of the meeting. “The best of men, having wills of their own, are liable to attempt to carry out their own views without paying... Read More