Many grantmakers are unaware, but private foundations can make direct grants to individuals to further the private foundation’s exempt purpose. Private foundations often focus their grantmaking programs on making grants to...more
Private foundations are subject to special rules relating to conflicts of interest. These are called “self-dealing” rules. These rules flatly prohibit transactions between interested persons (known as “disqualified persons”)...more
When a foundation is initially created, its governing documents are a creature of circumstance—usually, there is some tax or charitable impulse that is driving the creation of the foundation. The attorney or accountant...more
The board members or trustees of private foundations frequently serve on the boards of organizations that apply for and receive grants. This may present the possibility of a conflict of interest issue when the foundation...more