Self-dealing is prohibited; conflicts of interest can be managed. But the intricacies of the two can be confusing. In this webinar, led by attorney Darren B. Moore of Bourland Wall & Wenzel, find clear, easy-to-follow steps to help you recognize each, avoid self-dealing, and manage conflicts of interest. Learn the laws, discuss common situations and... Read More
How do you avoid self-dealing? The IRS developed self-dealing rules to ensure that foundations use their assets solely for charitable purposes. However, foundation managers not familiar with the law can find themselves violating self-dealing rules without even knowing it, or having any self-serving intent. And, ignorance of the rules or acting without malice will not excuse... Read More
Foundation boards and their accountants often use different formats for financial statements. In response, a group of experienced foundation financial officers, CPAs, and attorneys developed a uniform financial reporting system as a model for any private foundation. This uniform system can: Help your foundation prepare your Form 990-PF. The statements were created with the Form... Read More
How can you be sure your foundation’s Form 990-PF filing is accurate, complete, and compliant? Can you simply assume your accountant will get it right? Unfortunately, the answer is no. Regulators estimate that at least 25% of all Form 990-PF filings contain errors, which can lead to compliance issues or penalties. A Practical Guide to... Read More
It is becoming increasingly common for foundations to consider closing shop. While the reasons you’re contemplating this option may be straightforward, the process of closing can be complicated. The primer walks you through the strategy choices, tasks, and legal steps of closing shop so you can be confident that you know the main legal issue... Read More
It’s December and your foundation wants to fulfill its payout requirement within the calendar year. What can you do? Ask your local community foundation, association of grantmakers, or giving circles for information about community needs and nonprofits they support. Consult with members of the faith community. Ask your government social services agencies, United Way, or... Read More