Sample Document
Loan Agreement
Download an interest-free loan agreement between a foundation and a recipient organization. Read More
Resources
Topic: “Tax and Legal”
Sample Document
Sample Document
Audit Contract
Download a sample contract between a foundation and its auditor. Read More
RECORDING
Foundations 101 Virtual Seminar: Legal Basics
This legal basics module of the Foundations 101 virtual seminar, offers an overview of all private foundations rules, from filing the Form 990-PF to public disclosure rules and the self-dealing rules. This survey of the rules will empower you to know when to raise questions with a legal professional. By the end of this module... Read More
What You Need to Know About the “Tax Act”
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
Recordkeeping if Sunsetting Your Foundation
There is little legal advice specific to recordkeeping after a foundation closes. According to best practice, however, financial and tax records should be kept for a minimum of 7 years after their filing dates. Other business records, such as pension plans and D&O liability insurance contracts, should be kept for a minimum of 10 years.... Read More
Recordkeeping Requirements and Tips
Most foundation files of any significance should be kept a minimum of 3 years. That can add up to a lot of paper! Here are filing and storage tips: Give some thought to and take time setting up your filing system. Ultimately, you’ll waste less time and save yourself a lot of space. A good... Read More