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
Taxable expenditures are grants or payments that private foundations are prohibited from making under IRS rules. These expenditures can result in significant penalties and, in some cases, the loss of tax-exempt status. Prohibited Taxable Expenditures The IRS specifically prohibits private foundations from making the following: Influencing public elections: Participating in or funding election-related activity can... Read More
“Foundations use grant agreements to serve as a contract,” writes Danielle Reyes, executive director of Crimsonbridge Foundation, “typically to confirm details regarding the amount and period of the grant, its purpose, terms and conditions, and required reports and deadlines.” Download sample grant agreements from our Sample Documents Library >> Continues Reyes: Unfortunately, in some cases,... Read More