Posts tagged to 'Rules and regulations'

Managing relationships with your legal, financial, and investment advisors

Posted by National Center for Family Philanthropy on September 15, 2010

This month’s Ask the Center features answers to questions on managing relationships with your advisors from Patricia Angus, the founder and CEO of Angus Advisory Group, a philanthropy and family governance consulting and educational firm based in New York City. Patricia was a featured speaker on the...

Conflicts of interest: Steering clear of potholes and other bumps in the road

Posted by Anne Etheridge on June 15, 2010

Most family foundations prefer to focus on the business of giving, without having to worry about tripping over the sometimes obscure rules and regulations that govern this work. But the fact is that family foundation boards need to be aware of potential potholes on the road named philanthropy....

An open letter to elected officials

Posted by Virginia Esposito on November 15, 2008

In these economically challenging times, it would not be unusual for the new President, Congress, governors, and state and local officials to see everything in terms of the costs they represent. Certainly there is a history of seeing private philanthropy primarily as the tax deduction donors receive or...

What is the 5% payout rule?

Posted by National Center for Family Philanthropy on October 15, 2008

Q: What is the 5% payout rule? A: The “payout rule” refers to the fact that, by law, private nonoperating foundations must distribute five percent of the value of their net investment assets annually in the form of grants or eligible administrative expenses, with certain exceptions....

Families on the hill

Posted by Kevin Laskowski on March 15, 2008

At a time of great media and regulatory scrutiny of the philanthropic sector, 300 foundation representatives from 35 states and the District of Columbia took the time to gather in Washington, DC earlier this month for the 14th annual Foundations on the Hill (FOTH). Organized by the Council on...

Child care and more

Posted by National Center for Family Philanthropy on March 15, 2008

Q: Our foundation’s third generation is coming on the board and some have young children. Some family members say the lack of child care during board meetings hinders participation. Can the foundation pay for child care so that parents can attend board meetings? A: Generally no....

Travel expenses for next generation board members

Posted by National Center for Family Philanthropy on February 15, 2008

Q: We have a next-generation board with five college-age family members who travel from all around the country to meet, review grant proposals, and recommend grants to the governing board. Is it legal to reimburse them for travel expenses? A: Yes. Spouses and children of board members are disqualified...

Substantial contributors

Posted by National Center for Family Philanthropy on January 15, 2008

Q: It is my understanding that Form 990-PF requires reporting of the names and addresses of contributors which can be accessed by the public. I would prefer not having to report the names and addresses of contributors. What do I do? A: The Internal Revenue Service requires foundations to file Form...

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