Corporate Giving Programs and Foundations

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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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?

Foundation Lawyer/Trustee

Directors & Officers liability insurance provides financial protection for a foundation and its directors, officers, employees, and volunteers in the event of a lawsuit.

For boards of directors, trustees and foundation managers, there are few areas of operation that cause more confusion and uncertainty than indemnification and the purchase of directors and officers (D&O) liability insurance. And it is no wonder. Mixing the often impenetrable statutory language of the Internal Revenue Code with the highly refined wording of insurance policies creates fertile ground for confusion. To make matters worse, the rules are not static. State laws change, Treasury regulations are revised and insurance policy language is frequently amended.

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.

The Stewardship Principles for Family Foundations encourage foundations to provide orientation and training for new board members and professional development for existing board members and staff. They also encourage planning for leadership continuity through activities that identify, educate and prepare the next generation of family members for future board service. Finally, they suggest that the foundation inform the broader family of the foundation's work and provide avenues for young family members to learn about and participate in the work of the foundation.

What do you do when a grantee—or potential grantee—asks someone on your board or staff to sit on their board? Does such a request constitute a conflict of interest? Are there times when such a situation can actually benefit one or both of the organizations involved?

Let’s look at some of the pros and cons of sharing board members.

Many foundation board members wear more than one philanthropic hat. In addition to serving on the board of a grantmaker, they may also serve on the boards of grantseeking charities—or even on their staffs. Several issues may arise when board members find themselves on both sides of a grant request.

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