Private Foundations

Private foundations make grants based on charitable endowments. The endowment funds come from one or a small handful of sources -- an individual, a family or a corporation. Because of their endowments, they are focused primarily on grantmaking and generally do not raise funds or seek public financial support the way public charities (like community foundations) must.

“Private foundation” is the umbrella term that includes corporate, independent, family, and operating foundations.  As of 2011, there were 73,764 private foundations in the United States (Foundation Center, 2011).  

In 2011, private foundations held more than $604 billion in assets and gave away more than $45 billion (Foundation Center, 2011).  

Below is everything on our site for private foundations. You can use the filtering options on the right to narrow these results.

After September 11, 2001, many grantmakers and other charitable organizations that were not previously familiar with the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), learned of its existence. As one of the key U.S. government agencies seeking to shut down terrorism funding around the world, OFAC has focused attention on charities as one mechanism for providing financial support to terrorists. As a result, grantmakers and others have dedicated more time and effort to OFAC compliance.

In an effort to ensure that charitable resources are used exclusively for charitable purposes and not used to support terrorist activity, organizations may choose to adopt practices in addition to those explicitly required by law. Among the practices that some charities choose to adopt is including language in their grant agreements requiring grantees to certify that they do not and will not knowingly provide material support to any individual or entity furthering terrorist activities.

A tool to help private foundations determine when to use expenditure responsibility for grants to public charities.

Aligning private foundation grantmaking procedures with PPA requirements

Can we back out of a multiyear commitment we made in a prior year because our foundation’s assets have declined?

The answer in many cases is “no.” That is, unless your grantee is willing to release your foundation from its obligation.

Generally, an unconditional, multiyear grant is considered a pledge to the grantee organization. In many states, a pledge is a legally binding obligation. Therefore, your grantee could seek to take you to court should you stop paying the grant.

Generally, there is no legal restriction against making grants to churches, synagogues, mosques or other religious institutions. But there are some things foundations interested in such grantmaking should know.

Everything you need to know to stay out of trouble with third-party representatives.

Does hearing the sentence "Just make that grant check payable to my fiscal agent" stop you in your tracks? It should. If your potential grantees are washing your grant funds through an accommodating charity that has no control over your grant-funded activities, you should be worried.

Gifts from private foundations to field of interest funds, designated funds, and other funds that are not donor advised, are entirely permissible and do not raise special concerns. Gifts to a donor-advised fund can raise red flags as a potential donor control issue. The law does not prohibit gifts from private foundations to donor advised funds, nor does it exclude such gifts from being treated as qualifying distributions.

Community foundations have proven themselves to be cornerstones of support to the community, especially in times of need and disaster.  When emergencies or disasters strike, the Foundation must be well-prepared to quickly and effectively help itself in order to be able to help others.

This plan outlines the organization’s strategy for responding to emergency or disaster, provides information essential to continuity of critical business functions, and identifies the resources needed to:

Pages

Subscribe to RSS - Private Foundations