Tax and Legal Archives - Page 11 of 13 - Exponent Philanthropy

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Topic: “Tax and Legal”

Direct Charitable Activities

Direct charitable activities (DCAs) are those in which the foundation maintains some significant involvement, rather than simply awarding a grant to a recipient that carries out the activity. Examples include: Conducting educational seminars and conferences Providing goods, shelter, or clothing in which the foundation maintains some significant involvement (e.g., the distribution or delivery of the... Read More

Closing Shop

Although most foundations choose to exist in perpetuity, it is increasingly common for foundations to consider closing shop. The reasons for closing shop are often straightforward—donor mandate, a preference to give while living, challenging family dynamics, or a desire to spend out for greater impact in the short term—but the process can be complicated. If... Read More

Attending Fundraisers

Although attending fundraisers and similar events may not seem like a benefit to you, the Internal Revenue Service (IRS) may see it differently: as self-dealing, an act in which a trustee, staff member, or other “disqualified person” receives direct, personal benefit. To avoid falling afoul of laws to prevent self-dealing, many private foundation boards establish... Read More