How can I ensure that my foundation’s travel expenses remain “reasonable and necessary”?
To ensure your foundation’s travel expenses comply with IRS regulations, Exponent Philanthropy recommends adopting a clear travel and expense reimbursement policy that: Encourages cost-effective travel choices.The IRS requires that foundation travel expenses not be “lavish or extravagant.” Trustees and staff should opt for reasonable transportation and lodging. Defines eligible travel activities and sets limits.Your policy... Read More