Legal Compliance Guidance
Legal Question: Sharing Employees
Legal Compliance Guidance
Question:
May a company and its private foundation share employees?
Answer:
Yes, so long as any arrangement between the private foundation and the sponsoring company is structured in a way that does not violate the prohibition against self-dealing.
Corporate foundations and their sponsoring…
Tickets to Fundraisers
Legal Compliance Guidance
Question:
What should corporate foundations and their parent companies consider when purchasing tickets to fundraisers?
Response:
Whether they are tickets to a dinner, to a performance, or simply for general admission to a facility, tickets have an economic value. When a company or foundation…
Sample Grant Agreement – No Expenditure Responsibility
Sample Document
This document is an editable grant agreement for grants not requiring expenditure responsibility.
This sample document is being provided for informational purposes only and is not to be shared without the permission of the Council on Foundations. Use of the sample document does not create an…
How to Avoid Self-Dealing for Family Foundations
Legal Compliance Guidance
Slide presentation reviewing the basics of avoiding self-dealing as a family foundation.
Reporting Direct Charitable Activities
Legal Compliance Guidance
Question:
Our company foundation sometimes carries out its own charitable programs. For example, last year we organized a conference on the topic of evaluating program impact for our grantees and other nonprofits in one of our communities. Where does this information get reported on our Form 990-…
Public Disclosure of Form 990-PF
Legal Compliance Guidance
Question: Our staff just received a request for a copy of our foundation's Form 990-PF. Are we required to provide this information?
Answer: Yes. A foundation’s tax return on Form 990-PF provides a wealth of information about the organization including asset size, board members, salary information…
Membership Dues and Self-Dealing
Legal Compliance Guidance
Question: Why do Council on Foundations membership materials and invoices state that if my foundation and corporate giving program share a membership, dues must be paid by the corporation? Is this true for other memberships as well?
Answer: IRS self-dealing rules prohibit private foundations (…
Sharing Office Space
Legal Compliance Guidance
Question:
Can a company provide office space to the company foundation?
Answer:
A parent company can always provide the company foundation with office space as long as it does so free of charge. While it is even possible for the parent company and the foundation to share the cost of office space…
How to Avoid Commingling
Legal Compliance Guidance
Question
The same company representatives serve on our company foundation board of directors and our Corporate Contributions Committee. Can we hold the meetings for both programs simultaneously?
Answer
No. While it is possible to hold the meetings for the corporate giving program and company…
Establishing a Scholarship Fund for Corporate Employees
Fundamentals, Legal Compliance Guidance
Question: Our corporate foundation is planning to establish a scholarship fund for our employees' children. What do we need to keep in mind and what steps do we need to follow to ensure we are complying with the legal requirements?
Response: The granting of scholarships, fellowships, and…
Changing Supporting Organization Status
Legal Compliance Guidance
With tighter restrictions on grants to supporting organizations after the PPA, reclassifying into a public charity with fewer restrictions is an option worth considering.
Supporting organizations that meets the public support test can be reclassified as a public charity under section 509(a)(1) or…
990 Filing for Small Public Charities
Legal Compliance Guidance
Under the Pension Protection Act of 2006 (PPA), any organization that is not required to file Form 990 because it is a “small public charity” will be required to submit an annual 990-N report to the IRS. The IRS posted FAQ's with additional information about the filing requirement. A “small public…
Section 4947(a)(2) Split-Interest Trust Reporting
Legal Compliance Guidance
The Pension Protection Act of 2006 (PPA) has introduced filing requirements for split-interest trusts such as charitable remainder trusts and pooled income funds.
Which returns are affected?
These requirements apply to returns for taxable years beginning after December 31, 2006.
What are the…
Public Disclosure of Form 990-T for Private Foundations and Public Charities
Legal Compliance Guidance
Under the Pension Protection Act of 2006 (PPA), the rules for public disclosure of the Form 990-T by public charities and private foundations became identical to those for Form 990.
Which forms are affected?
Any Form 990-T filed after August 17, 2006.
What are the public disclosure requirements…
Tax Reporting for Supporting Organizations
Legal Compliance Guidance
Affected transactions: Returns filed for taxable years ending after August 17, 2006.
Are all supporting organizations required to file Form 990?
Yes. Prior to the enactment of the Pension Protection Act of 2006, public charities that normally received less than $25,000 in annual gross receipts…
Guidance for Donor Advised Funds, Supporting Organizations, and Employer Disaster Funds
Legal Compliance Guidance
This resource is a Council Summary of IRS Interim Guidance found in IRS Notice 2006-109, issued December 6, 2006, and explains steps for determining supporting organization status, and important information on the employer disaster relief fund exemption.
Responding to requests from the Council on…
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