No topic in private foundation rules generates more questions than self-dealing. These rules are designed to ensure that foundation assets are used for charitable purposes, not private benefit, by prohibiting certain transactions between the foundation and its insiders (called disqualified persons). The rules are strict: Even minor transactions, or ones that seem to benefit the... Read More
Filing Form 990-PF can feel like a daunting task, but with the right preparation, it doesn’t have to be overwhelming. Whether you’re managing the filing process yourself or working with a professional, staying organized throughout the year will save time and reduce stress. This guide will walk you through how to categorize expenses, keep essential... Read More
Navigating Legal and Financial Compliance Good governance goes beyond best practices—it ensures your foundation meets essential legal and financial requirements. This section outlines key regulations every private foundation must follow, starting with foundation law, IRS requirements, and the 990-PF tax form. You’ll also find guidance on budgeting and critical legal considerations, such as self-dealing restrictions,... Read More
Federal funding is a critical lifeline for many nonprofits, including those supported by Exponent Philanthropy members. When disruptions arise—whether from policy shifts, executive orders, or legal challenges—nonprofits may encounter delayed payments, uncertainty about future grants, and cash flow challenges that threaten their programs and operations. For leanly staffed foundations, staying informed isn’t just about awareness—it’s... Read More
Legal insights provided by Arnold & Porter On December 22, 2017, President Trump signed a new tax bill into law, informally referred to as the Tax Cuts and Jobs Act (the “Tax Act”). Although several proposals were dropped from the legislation, the Tax Act contains a number of provisions relating to charitable giving and tax-exempt... Read More
In today’s rapidly changing world, where urgent needs, economic uncertainty, and a historic transfer of wealth are reshaping philanthropy, foundations are reexamining a core question: Should they exist in perpetuity or spend down their assets within a set timeframe? This debate isn’t new, but it feels especially relevant as funders weigh their desire for a... Read More