Depending on your foundation’s needs and budget, annual reports can be a short, typed document listing the year’s grants or an elaborately designed and printed publication. Some foundations hire communications consultants to write their annual reports; others do it in-house, typed as a simple one- or two-page letter. Annual reports don’t have to be lavish... Read More
If you take time to answer the following questions, you’ll be well on your way to managing staff legally and ethically, and to creating a supportive work environment that is sure to help your foundation achieve its goals. Advisors and resources Who on the board is responsible for monitoring human resources (HR) at your foundation,... Read More
A records retention policy is a simple written document—one or two pages—that summarizes your procedures for storing, organizing, purging, archiving, and protecting foundation documents and fulfilling public reporting requirements. A records retention policy typically includes the following information: What documents you store and how long you store them Where you store different types of documents:... 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
Generally, a worker may be classified as an independent contractor if the employer has the right to control or direct the result of the work but not the means or methods of accomplishing the result. The Internal Revenue Service (IRS) uses a 20-factor test to determine whether a worker is an employee or an independent... Read More
As an employer, you are responsible for documenting that your employee is eligible to work in the United States. To do this, the employee must complete Immigration and Naturalization Service Form I-9, Employment Eligibility Verification. You, the employer, must keep this form on file for as long as the employee works for you. For small... Read More