As private foundations and other charitable organizations look forward to the end of the coronavirus pandemic and the return of in-person events, it may be a good idea to review the self-dealing rules involving event tickets...more
Tax-exempt organizations (including private foundations, which are subject to special additional disclosures) are subject to certain public disclosure rules. These rules require that the organization make its exemption...more
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
As explored in a previous article, the IRS clarified that mission-related investments (MRIs) will not trigger the private foundation “jeopardy investment” rule (that is, a private foundation cannot make investments that would...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
At the end of June, the Commissioner of the IRS Large Business and International Division announced a new campaign to audit high-net-worth individuals and the entities (such as partnerships, corporations, trusts, and private...more
New proposed IRS regulations clarify that the tax will not apply in most cases when company officers/employees serve as directors and officers of the company foundation for no compensation from the foundation
In a prior blog...more
Foundations, like many investors, are considering how to use their assets to both provide investment return and to promote their social and charitable causes (a strategy sometimes referred to as “social impact investing”). ...more
As the COVID-19 pandemic continues, businesses may consider having their affiliated company foundations take the lead on providing assistance to affected employees and their families. This is permitted, but companies must...more