Legal Compliance Guidance
Legal Matters for Community Foundations - Virtual - June 2022
SOLD OUT!
Led by the Council on Foundations Legal Team, this workshop is flexibly organized to ensure that your broad legal questions for administering funds, grants, and community foundation activities are addressed. The legal team will provide technical and practical understanding of…
How to Calculate the Public Support Test
Legal Compliance Guidance, Publication
A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
In the United States, organizations that qualify to receive charitable tax-deductible contributions are described in Section 501(c)(3) of the Tax Code. These organizations are divided into two main…
Summary of Accelerating Charitable Efforts Act ("ACE Act")
The ACE Act, sponsored by Sen. Angus King (I-ME) and Sen. Chuck Grassley (R-IA), would modify existing rules relating to donor advised funds (“DAFs”), make certain changes to the rules for the excise tax on undistributed income of private foundations, and exempt certain private foundations from the…
Community Foundation Legal Question of the Month
June 2021
We have a DAF advisor who is interested in making a grant to a new nonprofit organization that is still waiting on their 501(c)(3) determination. The grant they are recommending is for a specific project of the organization. Can we still make the grant if we do expenditure responsibility…
Legal Office Hours for Community Foundations: April 2021
Recording
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Thank you for joining Council attorneys, Bryan Del Rosario and Ben McDearmon, for Legal Office Hours for Community Foundations: April 2021, a members only Q&A discussion that addressed emerging legal questions. The discussion focused on the top questions and concerns within the…
Disaster Assistance and Emergency Hardship Funds: Charitable Assistance for Individuals and Communities
Legal Compliance Guidance, Publication
A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
The Council on Foundations has long been involved in helping foundations and funders navigate grantmaking in times of disaster and hardship. We have published various materials over the years related to…
Charitable Solicitation Regulation and Other State Fundraising Regulations
Legal Compliance Guidance, Publication
A Chapter in Mastering Foundation Law:
The Council on Foundations Compendium of Legal Resources
This chapter of Mastering Foundation Law reviews what foundation managers need to know about state-level regulations of fundraising: why and how states regulate fundraising; the basic requirements for…
The PayPal Charitable Giving Fund Settlement and Variance Power
Legal Compliance Guidance
A multi-state settlement agreement between PayPal Charitable Giving Fund (PPGF) and almost two-dozen states was announced to address issues of transparency and PPGF’s website disclosures. One notable area about which state regulators raised concerns was disclosure by PPGF of the fact that PPGF…
Unintended Tax Consequences for Fortunate Morehouse College Students? There Could be a Fix for That.
What an incredible announcement on May 19 by billionaire and philanthropist Robert F. Smith who pledged to pay off the student loans of all 2019 Morehouse College graduates. How great for these students. However, as some observe, this incredible gesture of generosity may have a downside in the form…
New 21 % Excise Tax on Nonprofit Executives: Does It Impact My Corporate Foundation?
As companies file their 2018 taxes, several corporate philanthropic leaders have contacted the Council with concerns surrounding the new excise tax. As part of the Tax Cuts and Jobs Act of 2017, Section 4960 of the bill imposes a 21 percent excise tax on highly-paid executives of nonprofit…
Community Foundation Scholarship Programs: From A to Z
Recording
In this month’s “Lunch with Legal Counsel” webinar, Ben McDearmon, Law Clerk and Legal Administrator with the Council, continues our March scholarship series after our discussion earlier in the month on Post-Graduation Scholarships. Ben guides attendees on an exploration of topics around…
Sample Policy on Records Retention and Destruction
Sample Document
Sample formal policy on records retention and destruction for board approval.
This sample document is being provided for informational purposes and is not to be shared without the permission of the Council on Foundations. Use of the sample document does not create an attorney-client relationship,…
Updates on Global Giving and Non-Tax US Regulations that Impact Funders
Recording
If you have any questions, pleae email legal@cof.org.
Topics included regulations like the Foreign Agent Registration Act (FARA), Foreign Corrupt Practices Act (FCPA), US Treasury’s voluntary anti-terrorism guidelines and more.
Don't Be Caught Off-Guard This Tax Season: A Guide for Navigating the New UBIT Rules
Recording
Does your organization provide parking/transportation benefits to employees or do you already file the Form 990-T? If you answered yes to either of those questions, your organization will owe taxes for 2018 and the filing process is going to be different than it was last year. The Council’s…
Can Corporate Giving Benefit Company Employees? Let's Find Out
Recording
View the Slides
At the Council, we are often asked how corporations can fund scholarship programs for company employees and dependents. Similarly, corporations often want to assist employees in times of crisis, whether due to a natural disaster or a more personal tragedy. In both cases, the…
ER Causing You Trauma? Diagnosing the Rules and Regulations for Expenditure Responsibility
Recording
View the Slides
The steps of expenditure responsibility are the federally-mandated procedures a private foundation (and DAFs) must follow for any grant made to a non-charity. While the rules for exercising expenditure responsibility are relatively straightforward, many issues and concerns can…
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