In Give Smart, Thomas J. Tierney and Joel L. Fleishman wrote that private foundation excellence is self-imposed. “Of all the characteristics that distinguish philanthropists, the single most consequential may be the fact that they are essentially accountable to no one but themselves,” they said. Governments must win the favor of voters. Companies must earn customer... Read More
Senators Chuck Grassley (R-IA) and Angus King (I-ME) introduced bipartisan legislation that aims to reform private foundations, and ensure that charitable dollars held in donor advised funds (DAFs) are distributed to working charities in a reasonable period of time. A joint press release states: “Donor-advised funds currently have more than $140 billion set aside for... Read More
The Sauer Family Foundation invests in strengthening the well-being of children so they thrive in their families and communities in Minnesota. After the events at George Floyd Square unfolded not far from our office and home, we decided there was no better time to bring a larger influx of our resources to bear for children... Read More
Every year, many foundations file their IRS Form 990-PFs with inaccuracies and mistakes that can cost their wallet and reputation. Private foundations that don’t have the in-house technology to meet this requirement may seek assistance from tax advisors to avoid these errors. One such example is that starting with the 2020 tax year, Form 990-PF... Read More
“Philanthropy relies on the amassed wealth of families and institutions that have benefited from systemic racism. As a result, the institution has a power imbalance in where funds go and what organizations and initiatives receive support,” said Maya Pendleton and Juanita Gallion of The Center for the Study of Social Policy in an Exponent Philanthropy... Read More
A family private foundation creates a structure for charitable giving and a lasting legacy for the family, but it also comes with administrative burdens. Stephanie Yan, GHJ Managing Director and Private Foundation Practice Leader, talks to Pegine Grayson, Senior Vice President/Client Advisor, Director of Philanthropic Services at Whittier Trust, about the mundane but essential tasks... Read More