According to the Act, entities that meet certain criteria are eligible, including that they have seen a drop in gross receipts of at least 50 percent in the first quarter of 2020 compared to the first quarter of 2019. Does that mean that a drop in the market value of a foundation’s endowment could potentially... Read More
No, a change in the foundation excise tax enacted late last year will make it an easier decision for foundations to increase their payout rates. Previously foundations that paid out at a higher rate than the previous five years were required to pay a 1 percent excise tax, and those that paid out at a... Read More
The National Council on Nonprofits has gathered a number of resources to help you and your grantees understand the relief bills and what they mean for nonprofits, including webinar recordings, slide decks, graphic illustrations, and more. We encourage you to share those you believe will benefit your grantees. Read More
As funders move to teleconference and videoconference solutions in response to COVID-19, many questions emerge around the protocols surrounding these solutions and how to prepare board members to use them. This email was sent by staff of the Peggy and Jack Baskin Foundation before its board’s first Zoom meeting: Dear all, I hope you doing well... Read More
Your fellow funders are sharing their ideas like those below via our online General Discussion Community. We encourage you to subscribe and join the conversation. Starting Friday March 20 at 2pm ET, and every Friday in the coming weeks, Exponent Philanthropy will host a live discussion for all lean funders to connect around response to the COVID-19... Read More
Private foundation taxable expenditures are grants or expenditures prohibited by the IRS. The IRS prohibits these taxable expenditures: Influencing public elections: There are significant penalties for participating in an election, and this may be grounds for revoking the foundation’s tax-exempt status. Noncharitable activities: A grant or questionable administrative expenditure for noncharitable purposes may subject the... Read More