Nonprofit Law Blog

By NEO Law Group

PRIVATE FOUNDATIONS / PHILANTHROPY

Private foundations face particular legal issues and challenges that must be managed by their executives and boards. Informed leaders can maximize the impact of their foundations in advancing their charitable missions. But they must carefully manage those issues and challenges that can expose the foundation and its leaders to penalties and damage to their public reputation, especially if the foundation is engaged in arrangements and transactions that involve potential or actual conflicts of interests. Careful planning is critical to building a strong and sound infrastructure to ensure the foundation’s ongoing effectiveness and legal compliance.

Council on Foundations 2016 Annual Conference

Published on: April 12, 2016April 30, 2016 by Gene Takagi

The Council on Foundations 2016 Annual Conference (The Future of Community) was held in Washington DC on April 8-12. The Conference website identifies contemporary boundaries that make up community (identity, purpose, and place) and three focus areas that have a direct impact on the health and well-being of our global communities:...

Private Foundation: New Rules Recognizing Mission-Related Investments

Published on: September 17, 2015September 30, 2015 by Gene Takagi 2 Comments

On September 15, 2015, the IRS released Notice 2015-62, Investments Made for Charitable Purposes, which may provide comfort to private foundations about making mission-related investments with reasonable business care without violating the jeopardizing investments laws. It is hoped that this guidance will catalyze greater impact investing by foundations using their endowment assets....

International Grantmaking: Expenditure Responsibility

Published on: July 26, 2015January 13, 2021 by Gene Takagi 3 Comments

Private foundations in the United States are often interested in funding promising organizations and projects that are based outside of the country. When doing so, these foundations are required to follow certain rules and procedures promulgated by the IRS to help ensure that the foreign grantees are properly using...

Private Foundations & Self-Dealing

Published on: March 23, 2015August 23, 2016 by Erin Bradrick

We recently added a post to the blog about private foundations and the rules that they are subject to. Of the private foundation rules, those regarding self-dealing are some of the most complex and have some of the most serious potential ramifications for a private foundation if violated. In...

NEO Law Group’s Video on Tips for Nonprofits: Private Foundation or Public Charity?

Published on: March 17, 2015March 16, 2015 by Michele Berger

Yesterday, NEO Law Group released a new short video in its series of videos on tips for nonprofits, available on YouTube. This video focuses on the differences between private foundations and public charities. We hope that you enjoy it and please stay tuned for additional videos from NEO Law Group on tips for nonprofits.

Private Foundation Rules

Published on: March 10, 2015December 24, 2019 by Michele Berger 3 Comments

A Section 501(c)(3) exempt organization is presumed to be a private foundation unless it qualifies as a public charity. The distinction between the private foundation and public charity classification may be critical for organizational leaders to understand, as public charity status is generally far more advantageous when there is...

Best of the Nonprofit Law Blog 2014

Published on: December 18, 2014December 30, 2014 by Gene Takagi

Here are some selected highlights from NEO Law Group over the past year that we hope you’ll find helpful. 2014 was also highlighted by an addition to Erin’s family and Michele’s graduation and passage of the bar exam! Amazing year for all of us. Blog Posts Governance What Issues Should a...

Fiscal Sponsorship: A Valuable Option for Grantmakers and Grantees

Published on: October 14, 2014October 14, 2014 by Gene Takagi 2 Comments

Yesterday, I had the honor of participating on a panel discussing fiscal sponsorship at the 2014 Grantmakers in the Arts 2014 Conference in Houston. Frances Phillips (Walter and Elise Haas Fund), Melanie Beene (consultant, former CEO of Community Initiatives), and Ian David Moss (Fractured Atlas) were my co-panelists, and we were...