Publisher: Arnold and Porter LLP

Revising Foundation Bylaws: Rules & Process?

Posted on November 15, 2016 by Andras Kosaras

Recently, our family foundation revised our by-laws. We are wondering what we do with this updated version. Does it need to be notarized? Do we need to send the revised bylaws to the IRS? … Read More

Are we legally mandated to have a Corporate Seal for our foundation?

Posted on September 1, 2015 by Andras Kosaras

In terms of whether a seal is required, you need to check your state nonprofit corporation statute to see if it says something specifically about this. Most do not say anything and having a corporate seal is generally not a legal requirement. … Read More

Can the Foundation Reimburse Expenses for a Family Gathering That Takes Place During a Board Meeting?

Posted on June 5, 2015 by Andras Kosaras

A foundation may only incur expenses for meetings/events that are related to carrying out its exempt purposes (including reasonable and necessary administrative expenses). If a board member wants to invite all board and family members to a family event, the foundation may only reimburse the board member for the expenses incurred if the event is for the purposes of the… Read More

Serving as a Grantmaker Representative on a Grantee Board

Posted on April 24, 2012 by Andras Kosaras

As a condition of receiving grant funds, some grantmakers require that a foundation representative serve on the board of a grantee during the course of a project funded by the foundation… Read More

Advancing Philanthropic Goals While Divesting Excess Business Holdings

Posted on May 17, 2009 by Andras Kosaras, James P. Joseph

Congress enacted the excess business holdings rule to limit the ability of individuals to retain control of business enterprises by setting up private foundations to hold substantial or controlling stakes in these businesses (it applies equally to nonoperating and operating foundations)… Read More

Revising Foundation Bylaws: Rules & Process?

Arnold and Porter LLP

Revising Foundation Bylaws: Rules & Process?

Posted on November 15, 2016 by Andras Kosaras

Are we legally mandated to have a Corporate Seal for our foundation?

Posted on September 1, 2015 by Andras Kosaras

Can the Foundation Reimburse Expenses for a Family Gathering That Takes Place During a Board Meeting?

Posted on June 5, 2015 by Andras Kosaras

Serving as a Grantmaker Representative on a Grantee Board

Posted on April 24, 2012 by Andras Kosaras

Advancing Philanthropic Goals While Divesting Excess Business Holdings

Posted on May 17, 2009 by Andras Kosaras, James P. Joseph

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