The Claude W. and Dolly Ahrens Foundation has a mission, vision, and core values. A seven-word motto, though, most succinctly expresses its goal: Leave it better than you found it. Claude W. Ahrens lived by those words, says granddaughter Julie Gosselink, president and CEO of the foundation. In 1993, after a successful career in the... Read More
Here are the things a private foundation must do every year to remain a private foundation and stay out of trouble: Pay your annual excise tax on the foundation’s net investment income through quarterly estimated payments. File your federal tax returns and comply with state filing rules. Meet your annual minimum distribution requirement through grants... 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, states have similar laws regarding foundations. It typically is recommended that you incorporate in the state where the main office will reside so that you only need to file paperwork with one state. Certain states, including California and New York, maintain minor limitations and/or requirements on private foundations, which you should understand before incorporating... Read More
From tough economic times come smart strategies like the following that are worth keeping in mind in good times as well as bad. Revisit your goals As foundation leaders face tough decisions, many are stepping back to reconsider their guiding principles, including mission, vision, and values—a good practice from time to time in any grantmaking... Read More
Not long ago, Exponent Philanthropy convened eight funders interested in focusing their giving. Over the course of our 7 months together, we named several rationalizations for not focusing. Have you used or heard any yourself? We share the following five and include ways to move past them. Misconception: Good deeds and good intentions will lead... Read More