Is This Self-Dealing? Three Questions to Ask

With self-dealing rules that are sometimes confusing, can a small foundation determine whether a potential transaction constitutes self-dealing? It can! Apply these three straightforward questions to any situation. Does the transaction involve a disqualified person? The Internal Revenue Service defines a disqualified person as one of the following: Officers, directors, trustees, and others with similar... Read More

Foundation Bylaws

Exponent Philanthropy cannot offer sample bylaws—there are many state variations and characteristics and needs of individual foundations—but the following overview does describe common sections and what a foundation board might expect within its own bylaws: Name—In some states, the first section gives the name of the foundation or other similar details required by state corporate... Read More

Form 990-PF: Preparing to File

A key to completing or reviewing the Form 990-PF is to have the required source documents available and organized before you start—even if you are hiring someone to complete the form for you. Categorizing expenses For easier access to what you need, it can be helpful to categorize expenses throughout the year as follows: Administration... Read More

Form 990-PF Tax Tips

The Form 990-PF is a complex, public document private foundations file annually with the Internal Revenue Service (IRS) to help ensure that they are fulfilling their charitable purposes. As a general policy, a foundation should try to file its Form 990-PF by the due date (i.e., the 15th day of the 5th month after the... Read More

Expenditure Responsibility and Equivalency Determination for International Grantmaking

The easiest way to fund international causes is to use a U.S.-based intermediary or aid organization that has networks in foreign locations. Those organizations specialize in giving abroad and can redistribute funds effectively to meet specific needs. Not only may the grant be more effective because of the organization’s connections but foundations avoid the additional... Read More