Good governance isn’t just about best practices—it ensures your foundation follows essential legal and financial rules. This section covers the key regulations every private foundation must follow, helping you navigate the legal landscape while saving time and legal fees.
This page starts with the basics: foundation law, IRS requirements, and the 990-PF tax form you’ll need to file annually. From there, we explore budgeting essentials to keep your foundation running smoothly. We also cover important legal considerations like self-dealing restrictions, expenditure responsibility for grants beyond 501(c)(3) nonprofits, and how to legally make grants to individuals. Even if you don’t use all these approaches, understanding what’s allowed will help you stay compliant with the law—and the IRS.
Login to Read More