Q&A's Archive - Page 27 of 43 - Exponent Philanthropy

Q&A Archive

May our foundation give grants to supporting organizations?

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Supporting Organizations Overview Supporting organizations are 501(c)(3) public charities with a subclassification of 509(a)(3). They are formed to support one or more other public charities, known as the “supported” organizations. Examples include foundations supporting universities, hospitals, libraries, schools, or specific charities. Types of Supporting Organizations Supporting organizations are divided into three types based on their... Read More

What types of insurance do foundations typically carry?

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In today’s litigious society, anyone—including your foundation and the individuals associated with it—may be the target of a lawsuit. Although state and federal laws may provide some protection for your board members and volunteers, this immunity will extend to your organization in only a few states. These laws often contain no protection for legal expenses,... Read More

Can you suggest creative retirement or transition packages for a long-serving foundation CEO?

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Exponent Philanthropy Board Member and Foundation Consultant Jeff Glebocki of Strategy+Action Philanthropy recently assisted a small-staffed, private foundation in a planned leadership transition of its chief executive who had a tenure of 20-plus years. To get a sense of how other foundations approached creative retirement/transition packages for long-serving foundation chief executives, he posted a listserv... Read More

What information do I have to disclose to the public?

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As a private foundation, you are required to make the following documents available to the public: Form 990-PF, the annual information return filed with the Internal Revenue Service (IRS), for the 3 most recent years Form 1023, the application for federal tax-exempt status (and all related correspondence with the IRS) Form 990-T, the unrelated business... Read More