Private foundations may now own philanthropic businesses whose profits are dedicated to charity without the prohibitive excess business holdings tax. Newman’s Own Foundation was the proponent of recent legislation that allows...more
Take note of these practical concerns for private foundations making grants to foreign organizations.
On September 25, the Internal Revenue Service (IRS) published final regulations for private foundations making good...more
New guidance permits private foundations to consider charitable purposes when making investments with a substantial purpose of capital appreciation or the production of income....more
Type III supporting organizations should take steps to comply with new regulations and funders should review due diligence procedures for grants made to these organizations.
On December 21, 2012, the Internal Revenue...more