Choosing the Right Structure for Private Foundations: Corporation vs. Trust

Navigating Self-Dealing in Private Foundations: Understanding Excise Taxes and Corrective Actions

Private foundation excise taxes come into play when self-dealing occurs--they are essentially a financial penalty to prevent foundation assets from being used for personal gain. The excise taxes are not imposed on the foundation itself, but rather on the persons involved in transaction, often including the foundaion managers responsible for authorizing the transaction. The taxes progressively increase each year until corrective actions are taken.

Choosing the Right Charitable Tool: Private Foundations or Donor-Advised Funds

Private foundations and donor-advised funds (DAFs) are essential tools in philanthropy, each with distinctive benefits and drawbacks. Private foundations emphasize collaborative philanthropy with structured teams, while donor-advised funds (DAFs) support more individual-based giving and decision-making. Private foundations offer enduring structures and control, often with complex administration, while DAFs provide streamlined administration and lower cost. Selecting between them depends on individual goals and circumstances, with the possibility of strategically combining both for optimal impact.

From Dreams to Reality: Establishing Scholarship Programs for Private Foundations

Operating scholarship programs can be a fulfilling endeavor for private foundations, offering a chance to positively impact deserving students and communities. However, successful implementation requires meticulous planning and strict adherence to IRS regulations.

America's Foundations: A Tale of Lost Returns in a Quest for Superiority

Foundations are facing a challenging predicament as their investments fail to meet expectations despite substantial expert advice and partnerships with Wall Street institutions. The pursuit of high-risk, high-reward strategies has often yielded poor returns, prompting a need for critical reevaluation and consideration of more reliable, passive approaches to enhance their philanthropic missions.

Embracing the Virtual Shift: Enhancing Family Foundation Board Meetings in the Digital Age

Virtual board meetings have become crucial for family foundations, allowing them to foster relationships, transparency, and impactful outcomes. By creating an inclusive environment, infusing personal elements, optimizing meeting efficiency, promoting ongoing communication, and ensuring compliance and effective governance, family foundations can navigate virtual board meetings and maximize their impact in the digital era.

Navigating Travel Reimbursement: Best Practices for Family Foundations

Discover best practices for travel reimbursement in family foundations, including the importance of a well-defined policy that outlines eligible activities and reimbursable expenses. Adhering to IRS guidelines for accountable plans can simplify the process and ensure compliance, providing a tax-efficient approach. Thorough documentation, timely submission, and returning unspent money are key considerations.