Grantmakers can legally participate in the political process by following guidelines established by the IRS. Here are some tips.
Corporate Philanthropy refers to the investments and activities a company voluntarily undertakes to responsibly manage and account for its impact on society. It includes investments of money, donations of products, in-kind services and technical assistance, employee volunteerism, and other business transactions to advance a social cause, issue, or the work of a nonprofit organization. Corporate foundations and corporate giving programs traditionally play a major role in these areas.
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An overview of the laws that govern what private foundations can and can't do regarding involvement in the public policy process.
Companies and their private foundations must carefully navigate the do’s and don’ts of contact between foundation employees and legislators.
How should the company foundation's grants and activities fit into the sponsoring company's efforts to develop strong relationships with government officials? Is it self-dealing for company lobbyists to mention the good works of the foundation? May foundation employees lobby legislators? Should foundation grantees play a role in promoting the interests of the sponsoring corporation?
Sabbaticals are not too uncommon in the nonprofit world for foundation executives or senior management. It can be a useful time to reflect on past accomplishments, revitalize, and gain renewed inspiration for future work. Sabbaticals for board members likewise can have similar positive effects but should be approached with care.
When to Think Twice
Ordinarily, established private foundations and public charity grantmakers would ignore the IRS's revision of Form 1023, Application for Recognition of Exemption from Federal Income Tax. After all, these groups have already received their determination letters. But the revised Form 1023 and the accompanying instructions that the IRS issued on November 1, 2004, merit grantmakers' attention.
This article explores one of the more common questions about conflicts of interest: May the foundation's lawyer serve as a trustee?
Directors & Officers liability insurance provides financial protection for a foundation and its directors, officers, employees, and volunteers in the event of a lawsuit.
Under the rules applicable to private foundations, directors or trustees and staff members may be reimbursed for reasonable and necessary expenses incurred in connection with the foundation's charitable activities. Such expenditures fall under the heading of administrative costs and will generally count toward the foundation's minimum distribution requirement, or payout.
Over the past decade or so, economies have become more global and the tools for communicating news from around the world have become more effective and timely in reporting global events via the internet, video and text messaging, Twitter, and Facebook, to name but a few of these tools. Foundations similarly are now faced with the challenges and opportunities of engaging an international community of stakeholders in their philanthropic endeavors. The relationships that a foundation forms with nonresidents and non-U.S.