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, expenditure responsibility for grants beyond 501(c)(3) nonprofits, and rules for awarding grants to individuals. Even if your foundation doesn’t use all these approaches, understanding what’s permitted will help you stay compliant with IRS regulations.
Login to Read More