Discretionary grantmaking is the practice of allowing board members (and in some cases, committee members, family members, or staff) to direct a portion of grantmaking dollars to organizations of their choice. While the board is legally responsible for all discretionary grants, they’re generally approved without extensive review or discussion. Discretionary grants are truly made at... Read More
From a tax law perspective, a private foundation may pay “reasonable and necessary” administrative expenses—and count them toward its annual distribution requirement—without subjecting the foundation or its managers to a penalty tax. These expenses must be (a) related to the accomplishment of the foundation’s charitable purposes, (b) related to its investments, or (c) payments of... Read More
Our community’s Annual Conference is designed specifically for and by lean funders—those who give with few or no staff. We are a genuine community that supports and inspires each other even through difficult times. Exponent Philanthropy is where you can let your guard down and talk about the challenges and issues affecting the communities and... Read More
An “expenditure responsibility” grant is a grant to an organization that is not a charity as defined in section 509 of the Internal Revenue Code, but that is made for a charitable purpose. An example would be a grant to a Rotary Club (a Section 501(c)(7) organization, which is not a charity) to be used... Read More
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Here are several ways to prepare children and teens for foundation giving: Invite them to board meetings Make younger family members feel like part of the group by inviting them to see how the foundation works. Keep in mind that board meetings can be tedious for some kids, especially younger ones. They don’t necessarily have... Read More