Regulatory vs. Voluntary Annual Reports
Some states require foundations to file an “annual report” alongside their Form 990-PF to ensure compliance with their charitable purpose. These reports follow state-mandated templates and are distinct from the voluntary annual reports many foundations create for outreach and communication.
Why Create a Voluntary Annual Report?
A voluntary annual report is a powerful tool to showcase your foundation’s work, attract quality applicants, and highlight your impact to the public and policymakers. These reports can be tailored to your foundation’s budget and needs, ranging from a simple one-page grant list to a professionally designed publication. The best part? They don’t need to be expensive or elaborate to be effective.
Explore the Key Elements of a Voluntary Annual Report Here »
Disclaimer: While we pride ourselves on our advice, please realize Exponent Philanthropy is not a law or accounting firm. This information contained in this Q&A is being provided for informational purposes only and not as part of an attorney-client relationship. The information is not a substitute for expert legal, tax or other professional advice tailored to your specific circumstances, and may not be relied upon for the purposes of avoiding any penalties that may be imposed under the Internal Revenue Code. It is our advice that you seek independent counsel, for any tax, accounting or legal issues you may have, related to matters that are of a material concern to you or your organization.
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