Andrew Schulz

General Counsel, New Venture Fund

Andrew Schulz is responsible for the New Venture Fund’s legal compliance and for providing expert guidance to the firm and its many hosted projects on a broad cross-section of tax, legislative, and regulatory issues. Andrew has over 17 years of experience representing nonprofits and is deeply knowledgeable on the many legal issues relating to the governance and management of charitable organizations, including federal income tax, grant making, lobbying, political activity, endowment management, fiscal sponsorship, charitable giving, nonprofit corporations, contracts, copyright, trademark, and employment law.

Previously, Andrew was Executive Vice President at Foundation Source, serving the company’s more than 1,100 family and corporate foundation clients. He also represented the company within policy, legislative, and regulatory circles, and worked to cultivate relationships between the firm and attorneys, advisors, nonprofit partners, and other philanthropy service firms.

Andrew may be best known for his over 12 years of experience at the Council on Foundations. While there, he held numerous roles, most recently leading the council’s government relations and advocacy efforts as Vice President, Legal and Public Policy. He also served as in-house counsel, educating council members on legal issues that affected their operations; administering the council’s governance functions; serving as the lead staff member on matters of ethics and best practices; and ensuring organizational compliance with state, local, and federal laws. Among his accomplishments while at the Council on Foundations, Andrew is most proud of the roles he played in designing and implementing an ethical code and sanctions process for members, and developing and rolling out the National Standards for US Community Foundations.

A nationally recognized authority on private foundations, Andrew is a frequent speaker and occasional author on various topics related to the philanthropic sector. He is a graduate of the College of Wooster and has a JD with honors from the George Washington University Law School. He is a member of the Maryland and District of Columbia bars. He has served on many nonprofit boards both as a director and as pro bono counsel. He lives in Kensington, MD with his wife and two children.

Contributions

Can a Family Member Personally Contribute to a Foundation Pledge?

Posted on December 11, 2014 by Andrew Schulz

Absolutely. There are no rules about what family members can do to support the foundation’s work. So, if the foundation has pledged $10 million to Duke University to build a new basketball stadium, and that is clearly a binding pledge on the foundation, a family member may call up the school and says, “I was going to do this out… Read More

May Donors Accept Free Tickets Received Due to a Foundation Grant?

Posted on December 11, 2014 by Andrew Schulz

A nonprofit has an exhibition that includes invitation-only receptions and preview parties. Individuals must become “sponsors” at a certain dollar level in order to attend these receptions and preview parties. A donor makes a grant to the nonprofit through their foundation that is equal to the sponsorship level. May the donor accept free tickets to these receptions and parties if… Read More

Are Nieces and Nephews Considered Disqualified Persons?

Posted on December 11, 2014 by Andrew Schulz

Are nieces and nephews of board members, foundation founders, considered disqualified or are just the direct blood descendants disqualified? Nieces and nephews of board members are not considered to be disqualified persons; however, in the family foundation context, you also have to go back to who the substantial contributors were. For instance, your niece may be a direct bloodline of… Read More

If a Family Member is an Employee of a Non- Profit Funded by the Foundation, Does it Matter How Long the Person Has Worked There?

Posted on December 11, 2014 by Andrew Schulz

If a family member is an employee of a non-profit funded by the foundation, does it make any difference how long the person has worked there? No, it really doesn’t. The only issue is if it appears on its face that the only reason you’re writing the grant is so your son will get hired by the non-profit. That would have… Read More

Can a Foundation Fund a Non-Profit Where a Family Member is Employed?

Posted on December 11, 2014 by Andrew Schulz

Yes, as long as the grant isn’t earmarked for their compensation. However, consider an example where the total operating budget of the non-profit is $250,000, of which $100,000 is their compensation, and you provide a $200,000 grant. You’re really getting into an indirect self- dealing possibility where, as a matter of fact, you are paying their salary and it’s unavoidable… Read More

What Kinds of Financial Expenses Do Not Count Toward the 5% Payout?

Posted on December 11, 2014 by Andrew Schulz

With the exception of expenses for the management and product of income, all charitable expenses – including the cost of preparing the foundation’s 990-PF – count towards the payout. So, whether it’s rent, utilities, travel-related expenses, grants, contracts with consultants, or other such expenses – everything that you spend, other than investment management expenses, count towards the payout. The exception to… Read More

The 2014 Trustee Education Institute: An intensive seminar for family foundation trustees

Posted on September 24, 2014 by Glen Galaich, Virginia M. Esposito, Susan Crites Price, Ami Aronson, Andrew Schulz, Kelly Sweeney McShane, Kristin Pauly, Leonor Alfonso, Maegan Scott, Mary Phillips

DOWNLOAD COMPLETE 2014 AGENDA HERE – SEE SPEAKER LIST AND BIOS BELOW NCFP’s Trustee Education Institute provides a comprehensive introduction to all of the key legal, investment, ethical, grantmaking, and family dynamics issues facing family foundation board members. Featuring a faculty made up of NCFP’s senior staff and highly respected philanthropy experts, this three day, intensive seminar will cover: What does… Read More