Corporate Grantmakers

New Resources from the IRS

Recently, the IRS released a new plain-language guide for private foundations. The Compliance Guide for 501(c)(3) Private Foundations [pdf] provides an overview of a number of operational aspects for private foundations (including corporate foundations). Topics addressed include:

• types of private foundations
• restrictions on private foundations
• recordkeeping and filing requirements
• public disclosure rules

For individuals looking for more in-depth information on these topics from the IRS, the Life Cycle of a Private Foundation page provides links to information on many aspects of operating a private foundation, from establishing to terminating the foundation.

For corporate grantmakers administering public charities, similar resources are available. Specifically, the Compliance Guide for 501(c)(3) Public Charities [pdf] and the IRS’s Life Cycle of a Public Charity page are helpful references.