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Private Foundations
Private foundations—A legal entity that’s set up by an individual, a family or a group of individuals, for a philanthropic purpose. A charitable organization that qualifies for a tax exemption as an organization described in IRC Section 501(c)(3) is a private foundation unless it falls into one of the categories specifically excluded from the definition of that term (referred to in section 509(a)).
A Symbiotic Relationship
Much of the wealth being transferred in the United States today is in the form of highly appreciated illiquid assets: family businesses, closely held...
No Job's Over 'til the Paperwork is Done
Tax benefits are a notable side effect of philanthropy (in addition to the satisfaction of leaving the world a better place). Subject to various limits...
The Future of Philanthropy
New report stresses that those donors, private foundations and community foundations engaging in philanthropy must “act bigger” and “adapt better” in the future...
Committing to Creating and Maintaining a Private Foundation
Choosing among various charitable-giving options can be a challenging proposition for your clients. The most common options are creating a private foundation...
Is “Go Slow” the New Norm
For Private Foundations?
Reduced endowments have led to a focus on providing for emergency social needs and shoring up the structures of charities. Is this a short-term or long-term shift? ...
A Business To Foundation Two Step
A new private letter ruling shows business owners a way to transfer their businesses to a family foundation, save estate taxes, and avoid big penalties...
Foundation Grants to Individuals
Times are tough. Unemployment is at its highest rate in 25 years. Homelessness is on the rise. College and graduate school tuitions continue to rise at...
What Form Should Your Private Foundation Take?
A quick guide to choosing between two possible entities: non-profit corporation and charitable trust...
Would They Do It Anyway?
About six years ago, I started talking differently to prospective private foundation clients. I used to try to craft a cohesive answer to the most common...
Breaking Up Is (Not So) Hard to Do
Sometimes even the best relationships go sour. But getting out of a private foundation doesn't need to be fraught with confusion about an uncertain future....
A Symphony of Philanthropy
Prospective donors often ask us whether a donor-advised fund (DAF) or a private foundation (PF) is better for charitable giving. It's only partially correct...
Tangled Web
David T. Leibell and Daniel L. Daniels, partners at Wiggin and Dana LLP, in Stamford, Conn., report: Private Letter Ruling 200734023, issued Aug. 24,...
Transfers Between Private Foundations
At some point in the life of a private foundation (PF), it may be advantageous to transfer most or all of its assets to one or more other PFs. The most...
Cold Snap for DAFs
The Pension Protection Act of 2006 (PPA), which so radically redefined the rules for supporting organizations, also transformed the rules for donor-advised...
Venture Philanthropy Deal Okayed
From David T. Leibell and Daniel L. Daniels, partners of Cummings & Lockwood LLC in Stamford, Conn., we have this update: IRS approves private foundation's...
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2011 Trust Glossary
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50 Years Ago This Month
| 50 years ago, in May 1962, we featured articles such as: "Future of Canadian Trusteeship" by Arthur H. Mingay", "Training Trust Employees" by Ian M. Marr, "What is a Trust Officer?" by Eric J. Brown, and "Selling Services" by Donald I. Webb. |
Conrad Teitell's Guide to Tax Benefits For Charitable Gifts
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