Closing a Foundation

Closing a nonprofit charitable institution presents a range of unknowns to the grantmaking community.
Exiting fields is a common practice in the philanthropic sector. It is often spurred by foundations’ continuous quest for innovation, new leadership, or a decline in assets.
From the Family Foundation Advisor, this article reviews the sunset-vs.-perpetuity issue and considers the potential benefits of a sunset date, with the special considerations of small family foundations in mind.
There's more to closing down a private foundation than packing up and turning off the utilities. Here are some questions, considerations, and IRS direction.
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