Philip M. Purcell, JD Consultant for Philanthropy Copyright All rights reserved
|
|
- Everett Benson
- 5 years ago
- Views:
Transcription
1
2 Top Ten (or More) Legal Issues for Community Foundations Philip M. Purcell, JD Consultant for Philanthropy Copyright All rights reserved
3 Top Ten (or) More Donor Advised Funds Expenditure Responsibility Fiscal Sponsorship Scholarships Hybrid Funds Hardship Assistance 7. Mission and Investments 8. Changes to Fund Agreements 9. Fundraising Potpourri 10. Good Governance 11. Cemeteries 12. Other?
4 1. Donor Advised Funds DAFs cannot fulfill pledges DAF cannot pay grant that qualifies donor/advisor for financial benefit avoid bifurcation IRA rollover cannot be paid to a DAF Avoid field of interest fund acting as a DAF Successor advisors
5 2. Expenditure Responsibility Basic: Assure charitable status: IRS determination letter, Secretary of State (current nonprofit status), IRS Exempt Check (status), Guidestar review (990) Beware 1023 EZ filers Five steps of ER: 1. Pre-grant inquiries, 2. Grant agreement, 3. Separate account, 4. Regular reports, reporting
6 WHEN IS EXPENDITURERESPONSIBILITY REQUIRED? Section 501(c) Tax Exempt Organizations Mutual Benefit Orgs Public Charities 501(c)(3) Private Foundations 501(c)(3) 501(c)(4)-Civic leagues 501(c)(6)-Business leagues, chambers of commerce, real estate boards 501(c)(7)-Social & recreational clubs 501(c)(8)-Fraternal benefit societies, associations. 501(c)(13)-Credit unions 501(c)(19)-Veterans organizations Traditional Charities 509(a)(1) No Public Support Test: Hospitals Schools Churches Government Public Support Test: Community Foundations and other publicly supported charities Publicly Supported Charities 509(a)(2) Public Support Test required Type 1 Supporting Organizations 509(a)(3) Type 2 Type 3 Public Safety Organizations 509(a)(4) Expenditure responsibility required. Expenditure responsibility may be required. Functionally Integrated Non-functionally Integrated Expenditure responsibility not required.
7 3. Fiscal Sponsorships Partnering with unincorporated associations or individuals for charitable project support Expendable/pass-through agreement for fund management issues: name of fund, fees, spending/investment, etc. Fiscal sponsorship agreement for administration issues: donorinitiated fundraising, receipt of gifts, insurance coverage, publicity, grant procedures and documentation, etc.
8 4. Scholarships Specific exception to donor advised funds per IRC Sec Donor must be minority vote on committee with decision controlled by community foundation board of directors Charitable criteria of scholarship approved by board, types of acceptable criteria Corporate scholarships private foundation requirements Pay awards to schools delegates reporting duties
9 5. Hybrid Funds Avoid combining two or more fund types in one fund/agreement. Example: Scholarship and donor advised funds Confusion relative to priorities and payments Potential for violation of donor advised fund rules: no pledge fulfillment, no receipt of IRA charitable rollover gifts Separation of purposes with separate agreements and accounts
10 6. Hardship Assistance Hardship assistance, disaster relief, Good Samaritan funds Consider use of intermediaries: Red Cross, Salvation Army, United Way, etc. to delegate oversight and reporting duties Employer sponsored funds Consult IRS Publication 3833 (Disaster Relief) and IRS training videos at
11 7. Mission and Investments Prudent Investment Standard: evolution of the law - including UPMIFA PRI: Program Related Investments grants to fulfill mission MRI: Mission Related Investments portfolio investments to fulfill mission SRI: Socially Responsible Investing specific screens on investment ESG: Environment, Social and Governance specific screens on investment
12 PRI Examples 1. Low-interest or interest-free loans to needy students, 2. High-risk investments in nonprofit low-income housing projects, 3. Low-interest loans to small businesses owned by members of economically disadvantaged groups, where commercial funds at reasonable interest rates are not readily available, 4. Investments in businesses in low-income areas (both domestic and foreign) under a plan to improve the economy of the area by providing employment or training for unemployed residents, and 5. Investments in nonprofit organizations combating community deterioration. 6. Social impact bond a grant to a nonprofit organization to provide the capital required to undertake a charitable program. Then another entity such as a government agency would repay the foundation the value of the grant (plus interest) if the nonprofit meets certain preidentified goals of success through the newly funded program. 12
13 8. Changes to Fund Agreements Requirement of variance power Application of UPMIFA requires respecting donor intent UPMIFA references cy pres standards: impossible, impractical illegal, etc. Follow the procedure of your state UPMIFA statute 1. With consent of living donor 2. Notification of attorney general 3. Court approval if donor disagrees or deceased
14 9. Fundraising Potpourri: Asset Gifts Examples: Real estate, S stock or other business interests, tangible personal property Due diligence: liability, lawsuits, insurance, taxes, management issues Consider use of supporting organization and/or LLC to avoid liability Avoid pre-arranged sales Gift receipt describe (not value) the property
15
16
17
18
19
20 9. Fundraising Potpourri: Gift Annuities Gift Annuities: 1. Follow rates recommended by American Council on Gift Annuities (ACGA) See 2. Register in appropriate states Consider early termination to avoid underwater annuity programs
21 9. Fundraising Potpourri: Other Avoid serving as trustee of charitable trusts Promote IRA charitable rollovers: 1. Not to donor advised funds 2. Direct transfer from IRA by check or wire Adhere to gift receipt rules see IRS Publication 1771 Register for fundraising in applicable states
22 10. Good Governance Independent Sector Guidelines for Good Governance and Ethical Practice Compliance with UPMIFA and state nonprofit law: prudent care standard Avoid excess benefit transactions and intermediate sanction penalties Assure insubstantial lobbying and no political campaigning
23 11. Cemeteries Cemetery companies are tax exempt per IRC Section 501(c)(13) - not eligible to become a designated fund to award grants for general administrative expenses But eligible for grants for ONLY charitable purposes: beautifying the community, improving public areas, replacing deteriorating headstones, historic preservation, educating the community about history Note: Gifts directly to cemetery funds qualify for an income tax (but not estate tax) charitable deduction per Rev. Rul
24 Other Legal Issues?
25
Fund Agreements: Best Practices. Phil Purcell, JD Consultant for Philanthropy, LLC Copyright rights reserved
Fund Agreements: Best Practices Phil Purcell, JD Consultant for Philanthropy, LLC pmpurcell@outlook.com Copyright 2017@All rights reserved Outline Fund Agreement (FA) Basics What should a FA say? Special
More informationProgram Description. Purpose
Program Description Purpose The following sections describe policies, rules and regulations of the GuideStream Charitable Gift Fund (GuideStream). GuideStream s primary activities consist of assisting
More informationTax Exempt and Charitable Planning
Tax Exempt and Charitable Planning Bryan Cave lawyers routinely assist numerous nonprofit and tax-exempt organizations to achieve their missions. Our lawyers also routinely assist individuals interested
More informationIRAs. Gifting IRA Funds to the Church. Questions & Answers
IRAs Gifting IRA Funds to the Church Questions & Answers Purpose The purpose of this brochure is to explain a new charitable contribution federal income tax law which allows certain IRA accountholders
More information15 Not-for-Profit Organizations Regulatory, Taxation, and Performance Issues
Chapter 15 Not-for-Profit Organizations Regulatory, Taxation, and Performance Issues McGraw-Hill/Irwin Copyright 2010 by The McGraw-Hill Companies, Inc. All rights reserved. 15-2 Learning Objectives After
More informationMaking Your Charitable Gifts Last Turn year-end giving into a longer-term strategy
Making Your Charitable Gifts Last Turn year-end giving into a longer-term strategy b y c ar ol g. k r o c h National Director of Philanthropic Planning Wilmington Trust Company ke y p oin t s Even as you
More informationA SIGNATURE PROGRAM OF INDIANA GRANTMAKERS ALLIANCE
A SIGNATURE PROGRAM OF INDIANA GRANTMAKERS ALLIANCE VERY SCARY (AND NOT SO SCARY) GIFTS October 31, 2013 Phil Purcell, JD Vice President, Ball State Foundation GIFT Legal Consultant *Not to be revised
More informationIRAs. Qualified Charitable Distribution. Questions & Answers
IRAs Qualified Charitable Distribution Questions & Answers Purpose The purpose of this brochure is to explain the permanent adoption of the charitable contribution federal income tax law which will benefit
More informationFamily Wealth Advisors
Family Wealth Advisors Philanthropy Services Terms Glossary & Definitions 1. B Corporation B Corporations are certified by the nonprofit B Lab to meet standards of social and environmental performance,
More informationGetting Tax-exempt. Linnea R. Michel, Esq. Legal Center for Nonprofits, Inc.
Getting Tax-exempt Linnea R. Michel, Esq. Legal Center for Nonprofits, Inc. 2014 Legal Center for Nonprofits, Inc. Information provided herein is not legal advice and is intended for informational purposes
More informationClient Advisory. Changes for Charities and Donors in the Pension Protection Act By Douglas D. Thomson. Corporate and Business
Client Advisory www.frostbrowntodd.com Corporate and Business August 30, 2006 Changes for Charities and Donors in the Pension Protection Act By Douglas D. Thomson On August 17, 2006, President Bush signed
More informationFISCAL SPONSORSHIP AGREEMENT
This exemplar is designed for general use in a Model A direct project situation, where the project is new. If the project already exists and there are assets or liabilities to be transferred in from a
More informationDonor Advised Fund. New Bremen Foundation Fund Agreement. P.O. Box 97, New Bremen, Ohio 45869
03-19-14 Donor Advised Fund New Bremen Foundation Fund Agreement P.O. Box 97, New Bremen, Ohio 45869 I. General Information A. FUND DONOR Fill in all areas. Individual Trust/Foundation Estate Corporation
More informationDONOR ADVISED FUND POLICIES AND GUIDELINES
DONOR ADVISED FUND POLICIES AND GUIDELINES March 2017 BNY MELLON CHARITABLE GIFT FUND is a service mark of The Bank of New York Mellon Corporation. 2017 BNY MELLON CHARITABLE GIFT FUND. All rights reserved.
More informationDESCRIPTION OF THE "CARE ACT OF 2003"
DESCRIPTION OF THE "CARE ACT OF 2003" Scheduled for a Markup By the SENATE COMMITTEE ON FINANCE on February 5, 2003 Prepared by the Staff of the JOINT COMMITTEE ON TAXATION February 3, 2003 JCX-04-03 CONTENTS
More informationCRAIG NEWMARK PHILANTHROPIES INFORMATION REQUEST
CRAIG NEWMARK PHILANTHROPIES INFORMATION REQUEST Please provide the following information to be considered for a grant. Please understand that completing and submitting this Information Request does not
More informationForm 990 Tax Exempt Reporting
Form 990 Tax Exempt Reporting CLAconnect.com Speaker Introductions Amanda Treml, CPA Amanda is a Manager with CliftonLarsonAllen and provides assurance and tax compliance services to non-profit organizations.
More informationFiscal Sponsorship Agreement
Fiscal Sponsorship Agreement Program Account Name: Account #: Date: Program Manager Name: Address: Email: Phone Number: Please initial each page certifying that you agree with and understand the terms
More informationNEW FUND AGREEMENT. P. O. Box 4334 Grand Junction, CO 81502
NEW FUND AGREEMENT I/We agree to make an irrevocable donation to The Western Colorado Community Foundation, Inc. (WCCF) in accordance with the terms of this New Fund Agreement. I/We acknowledge that I/we
More information1994 by Cecelia Hilgert
Charities and Other and Tax-Exempt Other Organizations, Tax-Exempt 1994 Organizations, 1994 by Cecelia Hilgert T he revenue and assets of nonprofit charitable organizations exempt under Internal Revenue
More informationBDO Annual Nonprofit Tax Update
BDO Annual Nonprofit Tax Update October 24, 2017 BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company BDO KNOWLEDGE limited by guarantee,
More information1 welcome to the foundation
1 welcome to the foundation Many individuals, families, corporations and nonprofit organizations have discovered the benefits of using Taos Community Foundation to meet their philanthropic goals. Donors
More information(c)(3) Applying for 501(c)(3) Tax-Exempt Status,
Tax Exempt and Government Entities EXEMPT ORGANIZATIONS Applying for 501(c)(3) Tax-Exempt Status, Inside: Why apply for 501(c)(3) status? Who is eligible for 501(c)(3) status? What responsibilities accompany
More informationCharitable Giving Options for 2018 and Beyond. Tama Brooks Klosek Klosek & Associates PLLC Planned Giving Council of Houston April 26, 2018
Charitable Giving Options for 2018 and Beyond Tama Brooks Klosek Klosek & Associates PLLC Planned Giving Council of Houston April 26, 2018 TAMA BROOKS KLOSEK Tama has a tax practice focused on both the
More information2016 Estate Planning and Community Property Law Journal CLE & Expo March 4, 2016 Lubbock, Texas
2016 Estate Planning and Community Property Law Journal CLE & Expo March 4, 2016 Lubbock, Texas Darren B. Moore Bourland, Wall & Wenzel, P.C. Attorneys and Counselors 301 Commerce Street, Suite 1500 Fort
More informationFamily Wealth Advisors
Family Wealth Advisors Philanthropy Services Terms Glossary & Definitions 1. Purpose investments Coined by Bank of the West, this term includes impact investing, environmental and social governance (ESG),
More informationTax Reform and Its Impact on Nonprofits
Wednesday, April 11, 2018 Tax Reform and Its Impact on Nonprofits Jeff Chapman Mike Engle Chris Hoyt Corey Ziegler Presented by Tax Reform and Its Impact on Nonprofits Welcome Dana Knapp Luann Feehan Presented
More informationAPPROVED BY BOARD OF TRUSTEES 5/28/09 WITH AMENDMENTS
I. INTRODUCTION FUNDRAISING POLICY APPROVED BY BOARD OF TRUSTEES 5/28/09 WITH AMENDMENTS Vermont College of Fine Arts (VCFA) and its Board of Trustees recognize the importance of charitable giving to the
More informationPROFESSIONAL COMPENSATION. A Position Paper. Prepared by the AFP Ethics Committee Adopted March, 1992 Revised September 2016
PROFESSIONAL COMPENSATION A Position Paper Prepared by the AFP Ethics Committee Adopted March, 1992 Revised September 2016 SUMMARY For purposes of this paper: Percentage-based compensation for contributions
More informationPNC CENTER FOR FINANCIAL INSIGHT
PNC CENTER FOR FINANCIAL INSIGHT Tax Reform and Philanthropy: Exploring Why and How You Give The new tax law will have sweeping implications on charitable giving, creating a greater urgency to examine
More informationTax-Exempt Organization Reference Chart
Tax-Exempt Reference Chart Derived from "IRS Publication 557: Tax-Exempt Status for Your (1997)" Note: This table may not include every type of that qualifies for some form of federal tax-exemption. It
More informationHOW TO APPLY FOR TAX-EXEMPT STATUS. Table of Contents
HOW TO APPLY FOR TAX-EXEMPT STATUS Table of Contents Basics of Tax Exemption Who Must File a Form 1023 501(c)(3) Requirements Organizational Test Operational Test Form 1023 Part I. Basic Information about
More informationFederal Financial Requirements
American Society of Health-System Pharmacists Federal Financial Requirements ASHP s Financial Toolkit for Affiliates Kimberlee Berry [Pick the date] FEDERAL REQUIREMENTS NOTE: All IRS forms can be accessed
More informationPlease Complete This Form to Establish a: Donor Advised Fund. The Boston Foundation. Return to:
F U N D A G R E E M E N T Please Complete This Form to Establish a: Donor Advised Fund at The Boston Foundation Return to: Donor Services Manager, The Boston Foundation, 75 Arlington Street, Boston, MA
More informationMAKE THE MOST OF YOUR DONOR ADVISED FUND
MAKE THE MOST OF YOUR DONOR ADVISED FUND GUIDELINES, TIPS, DOS AND DON TS More and more individuals and families are using donor advised funds (DAFs) either as their primary charitable giving vehicle or
More informationDonor Funds, Private Foundations, and Supporting Organizations
Reprinted from Advising California Nonprofit Corporations, copyright 2017 by the Regents of the University of California. Reproduced with permission of Continuing Education of the Bar - California (CEB).
More informationFederal Tax Law Changes Affecting 501(c)(3) Nonprofits
Federal Tax Law Changes Affecting 501(c)(3) Nonprofits David Heinen North Carolina Center for Nonprofits Connect Learn Advocate Important Disclaimers If you can read this fine print, you are sitting too
More informationChallenge Alaska Endowment Policy
Endowment Policy Approved 5-24-05 Endowment Policy Page 1/5 Table of Contents 1. Introduction 3 Page 2. Purpose of Endowment Policy 3 3. Responsibility to Donors 3 4. Authorization for Gift Negotiations
More informationFederal Tax-Exempt Status 501(c)(3) Organizations
Federal Tax-Exempt Status 501(c)(3) Organizations Most PTAs are classified as tax-exempt 501(c)(3) public charities under the Internal Revenue Code (IRC). One major advantage for organizations that are
More informationDONOR ADVISED FUND FUND AGREEMENT
DONOR ADVISED FUND FUND AGREEMENT Please Complete This Form to Establish a D O N O R A DV I S E D F U N D at the Boston Foundation, Inc. Return to: Donor Services 75 Arlington Street Boston, MA 02116 2
More informationCORPORATE PRIVATE FOUNDATIONS CHARITABLE EMPLOYEE HARDSHIP FUNDS COMPANY FOUNDATION SCHOLARSHIP PROGRAMS
CORPORATE PRIVATE FOUNDATIONS CHARITABLE EMPLOYEE HARDSHIP FUNDS COMPANY FOUNDATION SCHOLARSHIP PROGRAMS Celia Roady 202.739.5279 croady@morganlewis.com www.morganlewis.com Corporate Private Foundations
More informationCRS Report for Congress Received through the CRS Web
Order Code RL30877 CRS Report for Congress Received through the CRS Web Characteristics of and Reporting Requirements for Selected Tax-Exempt Organizations March 8, 2001 Marie B. Morris Legislative Attorney
More informationA For the 2010 calendar year, or tax year beginning, 2010, and ending, 20 D Employer identification number
Form 990-EZ Department of the Treasury Internal Revenue Service Short Form Return of Organization Exempt From Income Tax Under section 501, 527, or 4947(1) of the Internal Revenue Code (except black lung
More informationPrivate Foundations vs. Donor Advised Funds
The Path of Least Resistance Converting Private Foundations to Donor Advised Funds Cherie Evans Evans & Rosen LLP Berkeley, California 415.703.0300 cherie@evansrosen.com www.evansrosen.com 2016 Evans &
More informationGIFT ACCEPTANCE POLICY
GIFT ACCEPTANCE POLICY SUBJECT: Gift Acceptance Policy Date Issued: 12/8/2015 Date Updated: 2/6/2018 Review Date: 6/30/2018 APPLIES TO: Office of Development and Alumni Relations ISSUED BY: Vice President
More informationThe Multiple Sclerosis Society of Canada (MS Society) welcomes gifts which enable it to fulfill its mission, strategic goals and priorities.
Multiple Sclerosis Society of Canada Policy Manual Policy Direction Acceptance of Gifts Rationale and Relationship to Mission, Principles and Values The Multiple Sclerosis Society of Canada (MS Society)
More informationTax Reform Act of 2014
Provisions Affecting Exempt Organizations On February 26, 2014, House Ways and Means Committee Chairman Dave Camp (R-MI-4) released his comprehensive tax reform proposal. Intended as a discussion draft
More informationGEORGIA STATE UNIVERSITY FOUNDATION, INC.
GEORGIA STATE UNIVERSITY FOUNDATION, INC. Policy number/name: 2.1 Gift Acceptance Policy Title I, Principles and Definitions Issuing date: 6/4/2008 Effective date: 6/4/2008 Policy approved by: Board of
More informationPolicy on Gift Acceptance
GOVERNANCE AND LEGAL Effective Date: March 21, 2014 Date Revised: April 5, 2018 Supersedes: Related Policies: Responsible Office/Department: Keywords: Policy on Gift Acceptance I. Purpose and Scope II.
More informationGiving Today to Guarantee Tomorrow: A Lesson in Charitable Giving
Giving Today to Guarantee Tomorrow: A Lesson in Charitable Giving A careful review of the various ways to structure charitable gifts can help make your gifts more meaningful, both to you and to the charities
More informationComparison of 501(c)(3) and 501(c)(4) and 501(c)(6) Compiled from multiple publicly available web and printed resources**
Comparison of 501(c)(3) and 501(c)(4) and 501(c)(6) Compiled from multiple publicly available web and printed resources** Purposes 501(c)(3) 501(c)(4) 501(c)(6) Social Welfare: An organization must be
More informationWhen Your Donor has a Donor Advised Fund
When Your Donor has a Donor Advised Fund Sindy L. Craig, J.D.,LL.M. Northern California Planned Giving Conference May 5, 2017 When Your Donor Has a Donor Advised Fund Overview Case Study: Framework for
More informationPhilanthropic accounts for individuals and families. The Value in Giving
Philanthropic accounts for individuals and families The Value in Giving Vanguard Charitable is one of the largest charities in the United States. We were founded by Vanguard in 1997 as an independent nonprofit
More information2018 Options and Opportunities: Charitable Giving and the New Tax Rules
2018 Options and Opportunities: Charitable Giving and the New Tax Rules Page 1 Single filers (2018 2025): Joint filers (2018 2025): Page 2 In 2017, the standard deduction combined with the personal exemption
More informationA GUIDE TO MINNESOTA S CHARITIES LAWS
A GUIDE TO MINNESOTA S CHARITIES LAWS FROM THE OFFICE OF MINNESOTA ATTORNEY GENERAL LORI SWANSON www.ag.state.mn.us This brochure is intended to be used as a source for general information and is not provided
More informationShort Form Return of Organization Exempt From Income Tax
Form 990-EZ Department of the Treasury Internal Revenue Service Short Form Return of Organization Exempt From Income Tax Under section 501, 527, or 4947(a)(1) of the Internal Revenue Code (except private
More informationMarch 5, CC:PA:LPD:PR (Notice ) Room 5203 P.O. Box 7604 Ben Franklin Station Washington, DC RE: Comments Regarding Notice
March 5, 2018 Internal Revenue Service CC:PA:LPD:PR (Notice 2017-73) Room 5203 P.O. Box 7604 Ben Franklin Station Washington, DC 20044 Via Email: Notice.Comments@irscounsel.treas.gov RE: Comments Regarding
More informationProgram Guidelines. Bank of America Charitable Gift Fund CONTRIBUTIONS TO THE BANK OF AMERICA CHARITABLE GIFT FUND
Bank of America Charitable Gift Fund Program Guidelines The following document outlines the Guidelines that govern the Bank of America Charitable Gift Fund (Charitable Gift Fund) including contributions,
More information2015 Federal Tax Returns
2015 Federal Tax Returns All Knights of Columbus subordinate units in the United States must file an annual informational tax return (IRS Form 990) with the Internal Revenue Service (IRS). This memorandum
More informationTraditional Individual Retirement Account Disclosure Statement and Custodial Agreement
Traditional Individual Retirement Account Disclosure Statement and Custodial Agreement Effective November 11, 2016 Page 1 of 26 Table of Contents Section I: Disclosure Statement A. Introduction... B. Contributions
More informationDONOR ADVISED FUND AGREEMENT
DONOR ADVISED FUND AGREEMENT Thank you for opening a donor advised fund at The San Francisco Foundation! THE SAN FRANCISCO FOUNDATION With this agreement, (hereinafter referred to as the Donor ) is transferring
More informationPrivate foundations Establishing a vehicle for your charitable vision
Private foundations Establishing a vehicle for your charitable vision I didn t know where to start. The advice I received on creating a private foundation pointed me in the right direction, and now I m
More informationA DONOR S GUIDE. https://rcf.reninc.com RCF A DONOR S GUIDE 1 RCF_DG_
A DONOR S GUIDE RCF A DONOR S GUIDE 1 Helping your philanthropy go further You know how gratifying it is to support a worthy cause. What if you could create an enduring legacy through your charitable contributions?
More informationCompliance Guide for Tax-Exempt Organizations
INTERNAL REVENUE SERVICE TAX-EXEMPT AND GOVERNMENT ENTITIES EXEMPT ORGANIZATIONS, Compliance Guide for Tax-Exempt Organizations (Other than 501(c)(3) Public Charities and Private Foundations), Inside:
More informationA Guide to Your Donor-Advised Fund
A Guide to Your Donor-Advised Fund Contents Introduction 1 About National Philanthropic Trust 1 About Hollencrest Securities 1 The Independent Charitable Gift Fund 1 Creating a Donor-Advised Fund 2 Contributions
More informationNEBRASKA LAWYERS FOUNDATION GIFT ACCEPTANCE POLICY
NEBRASKA LAWYERS FOUNDATION GIFT ACCEPTANCE POLICY I. Purpose A. This Gift Acceptance Policy (the "Policy") has been adopted by the Nebraska Lawyers Foundation ("NLF") Board of Directors to outline procedures
More informationMBA for Non-Profits Understanding Non-Profit Financial Statements Part I
MBA for Non-Profits Understanding Non-Profit Financial Statements Part I Corporate Counsel Women of Color Thirteenth Annual Career Strategies Conference September 27, 2017 Copyright 2017 Deloitte Development
More informationConversions of Private Foundations to Donor- Advised Funds
Conversions of Private Foundations to Donor- Advised Funds May 15, 2017 by Kirk Hoopingarner Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those
More informationNonprofit Tax Update. September 22,
Nonprofit Tax Update September 22, 2016 BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company BDO KNOWLEDGE limited by guarantee, Webinar
More informationJeffrey P. Geida Weinstock Manion 1875 Century Park East, Suite 2000 Los Angeles, CA Tel: (310) Fax: (310)
Jeffrey P. Geida Weinstock Manion 1875 Century Park East, Suite 2000 Los Angeles, CA 90067 Tel: (310) 553-8844 Fax: (310) 553-5165 jgeida@weinstocklaw.com IRC 170(c), a contribution or gift to or for the
More informationINCOURAGE COMMUNITY FOUNDATION
INCOURAGE COMMUNITY FOUNDATION GIFT ACCEPTANCE POLICY Approved by Board of Directors on August 4, 2010 CONTENTS Gift Acceptance Policy pages 2 5 Appendices: Appendix A: Forms of Gifts to the Community
More informationA Topic You Love to Hate: Putting Your Gift Policies in Order
, LLC A Topic You Love to Hate: Putting Your Gift Policies in Order Brian M. Sagrestano, JD, CFRE Gift Planning Development, LLC 100 Chestnut Place New Hartford, NY 13413 P: 315.292.1335 F: 315.292.7001
More informationInvesting In The Future: Mission-Related And Program-Related Investments For Private Foundations
Investing In The Future: Mission-Related And Program-Related Investments For Private Foundations David A. Levitt When it comes to private philanthropy, the return on an investment may not be only financial.
More informationA Guide to Your Donor-Advised Fund
A Guide to Your Donor-Advised Fund Introduction Thank you for your interest in establishing a donor-advised fund (DAF) with National Philanthropic Trust (NPT). NPT is a tax-exempt public charity under
More informationNONPROFIT TAX HOT ITEMS: IRS ISSUES, FORM 990 AND LEGISLATION
NONPROFIT TAX HOT ITEMS: IRS ISSUES, FORM 990 AND LEGISLATION MACPA Government and Not For Profit Conference April 17, 2015 Mike Sorrells, BDO USA, LLP National Director Nonprofit Tax Services Agenda Update
More informationNONPROFIT TAX HOT ITEMS: IRS ISSUES, FORM 990 AND LEGISLATION
NONPROFIT TAX HOT ITEMS: IRS ISSUES, FORM 990 AND LEGISLATION MACPA Government and Not For Profit Conference April 17, 2015 Mike Sorrells, BDO USA, LLP National Director Nonprofit Tax Services Agenda Update
More informationThe statutory requirements for a traditional IRA, which are described in section 408(a) of the Internal Revenue Code (Code), are as follows:
Page 1 of 9 This Disclosure Statement is provided in accordance with the tax laws applicable to your individual retirement account (IRA). It provides only a summary of the rules that apply to your IRA.
More informationGift Acceptance Policies of the Battle Creek Community Foundation
Gift Acceptance Policies of the Battle Creek Community Foundation September 2016 (These policies supersede and replace the Gift Acceptance Policies of the Battle Creek Community Foundation, bearing a date
More informationTaxes for Rotary Clubs
Taxes for Rotary Clubs An effective guide for the implementation of strategies and policies to meet current regulations and tax policies that effect Rotary Clubs in Massachusetts. EMPLOYER IDENTIFICATION
More informationEastern Washington University Foundation Gift Acceptance Policies and Guidelines
Eastern Washington University Foundation Gift Acceptance Policies and Guidelines Board Approved: June 22, 2007 Revised & Approved: October 21, 2010 Revised & Approved: April 16, 2014 Finance Committee
More informationLegal Treatment Of Nonprofit Organizations
Legal Treatment Of Nonprofit Organizations Elizabeth Kingsley Harmon, Curran, Spielberg & Eisenberg, LLP American Bar Association Section of Taxation Exempt Organizations Committee January 25, 2013 (updated
More informationPhilanthropy as a Family Affair: Using a Private Foundation to Achieve Your Charitable Goals ~ Susan B. Hecker
Philanthropy as a Family Affair: Using a Private Foundation to Achieve Your Charitable Goals ~ Susan B. Hecker Establishing a private foundation can be a fulfilling way to work with charities, but be prepared
More informationExempt Organizations Determinations 2009 Unit la Learning Objectives and Class Hours
LESSO N 1 2 3 4 5 Exempt Determinations 2009 Unit la Learning Objectives and Class Hours LESSON LE ARNING OBJECTIVES TITLE «Identify the IRS Mission and Balanced Measures to Exempt «> Describe how TE/GE
More informationSummary of Charitable Provisions in H.R. 4 Pension Protection Act of 2006
Summary of Charitable Provisions in H.R. 4 Pension Protection Act of 2006 This is a summary of the provisions in the Pension Protection Act of 2006 (H.R. 4) that most directly affect grantmakers. It is
More informationRobert P. Goldman Goulston & Storrs, P.C., Boston
Pension Protection Act of 2006 (the Act ) Provisions Affecting Certain IRA and Qualified Plan Provisions, Charitable Giving and Tax Exempt Organizations Robert P. Goldman Goulston & Storrs, P.C., Boston
More informationShoreline Neighborhood Association Presentation. City of Shoreline, Washington March 19, 2008
Shoreline Neighborhood Association Presentation City of Shoreline, Washington March 19, 2008 Susan Schalla, Attorney Davis Wright Tremaine LLP 1201 Third Avenue, Suite 2200 Seattle, WA 98101 (206) 757-7700
More informationChapter 22. Exempt Entities. Eugene Willis, William H. Hoffman, Jr., David M. Maloney and William A. Raabe
Chapter 22 Exempt Entities Eugene Willis, William H. Hoffman, Jr., David M. Maloney and William A. Raabe Copyright 2004 South-Western/Thomson Learning Requirements For Exempt Status (slide 1 of 3) Serve
More informationPLANNERS' FORUM. A Basic Guide to Corporate Philanthropy. Direct Giving l
charitable giving: direct giving to charity, a company foundation, and a donor advised fund. Direct Giving l PLANNERS' FORUM A Basic Guide to Corporate Philanthropy By: Stephanie L. Petit, Adler & Colvin
More informationTax Reform Bill Will Require Nonprofits to Refocus Their Donor Conversations on Tax-Efficient Planned Giving Strategies
Tax Reform Bill Will Require Nonprofits to Refocus Their Donor Conversations on Tax-Efficient Planned Giving Strategies By Amy Pieper Starting in 2018, nonprofit organizations will need to consider the
More informationGLOSSARY OF TERMS USED IN FORM 990 QUESTIONNAIRE
GLOSSARY OF TERMS USED IN FORM 990 QUESTIONNAIRE This was sourced out of the IRS publication. We selected terms that may apply to your organization. Please see entire Glossary on the IRS website, http://www.irs.gov/pub/irs-tege/990_instructions_glossary_040708.pdf
More informationCORPORATE COMPLIANCE FOR NONPROFIT CORPORATIONS
CORPORATE COMPLIANCE FOR NONPROFIT CORPORATIONS TRISH E. DAVIS TAMI M. SEAVOY KENDRICKS, BORDEAU, ADAMINI, GREENLEE, & KEEFE, P.C. OCTOBER 13, 2016 COPYRIGHT 2016 KENDRICKS, BORDEAU, ADAMINI, GREENLEE
More informationReturn of Organization Exempt From Income Tax
Form 990 Department of the Treasury Internal Revenue Service Return of Organization Exempt From Income Tax Under section 501, 527, or 4947(1) of the Internal Revenue Code (except black lung benefit trust
More informationHot Topics in Board Governance. Suzanne S. Friday, Esq. Senior Counsel and Vice President of Legal Affairs
Hot Topics in Board Governance Suzanne S. Friday, Esq. Senior Counsel and Vice President of Legal Affairs Housekeeping Items Access the Help Desk: Click the? in the upper right corner of the gray webinar
More informationDONOR ADVISED FUND PROGRAM CIRCULAR. An Overview, Rules and Regulations of Rotary s Donor Advised Fund
DONOR ADVISED FUND PROGRAM CIRCULAR An Overview, Rules and Regulations of Rotary s Donor Advised Fund Updated 1 July 2014 Welcome to Rotary s Donor Advised Fund. Please read this Program Circular carefully.
More informationStatement of Program Service Accomplishments Check if Schedule O contains a response to any question in this Part III...
Form 990 (2010) Page 2 Part III Statement of Program Service Accomplishments Check if Schedule O contains a response to any question in this Part III.............. 1 Briefly describe the organization s
More informationGuidelines for Charitable Funds
Guidelines for Charitable Funds These guidelines describe how to open a charitable fund with the Catholic Community Foundation of Los Angeles (the Foundation ). We summarize the types of funds that are
More informationELEVENTH EDITION BRUCE R. HOPKINS
The Law of Tax-Exempt Organization ELEVENTH EDITION BRUCE R. HOPKINS WILEY Contents About the Author Preface About the Online Resources Book Citations xxvii xxix xxxiii xxxv PART ONE: INTRODUCTION TO THE
More informationWashington Update. Alexander Reid Morgan, Lewis & Bockius LLP
Washington Update Alexander Reid Morgan, Lewis & Bockius LLP areid@morganlewis.com DC Is Talking Tax Reform The idea of tax reform is to get our economy going again, provide better, more economic growth,
More informationCharitable Gifting: Overview and Tax Implications. Overview. Tax Implications - Charitable Deduction Rules
Overview Charitable Gifting: Overview and Tax Implications The desire to assist a charitable organization must be a primary motive for making a gift; if no charitable inclination exists, charitable giving
More informationGIFT ACCEPTANCE POLICY AND GUIDELINES Jewish Community Center of York PA. Approved by the Board of Directors 12/5/2013.
GIFT ACCEPTANCE POLICY AND GUIDELINES Jewish Community Center of York PA Approved by the Board of Directors 12/5/2013 Table of Contents Introduction... 2 Mission... 2 Purpose... 2 Terms and Definitions...
More information