Overview
Grant making is the raison d’etre of most foundations. It is what you do! Therefore, a solid foundation grant agreement ought to be the legal backbone for much of a foundation’s operations. Surprisingly however, for many private foundations the grant agreement is merely a form document that has been given little thought … if it exists at all. This OnDemand Webinar will cover some of the basics of the private foundation grant agreement and then move beyond the basics into some more advanced tax issues, such as grants to supporting organizations, scholarships and foreign grants.
Authors
Elaine Waterhouse Wilson, Quarles & Brady LLP
Self Study Credit - OnDemand Webinar
| CLE | 1 | PA | |
| CLE | 1.25 | AK, AZ, CA, IL, NC, ND, VT | |
| CLE | 1.5 | MS, MT, OR, TN, VA, WA, WI | |
| CLE | 1.8 | MO, WV | |
Self Study Credit - CD & Reference Manual
| CLE | 1.5 | AK, AZ, CA, GA, ME, MT, ND, NV, OR, UT, VT, WA | |
| CLE | 1.8 | MO, WV | |
| CLE | 2 | CO | |
Self Study Credit - Podcast
| CLE | 1.5 | AK, CA, ME, MT, ND, NV | |
| CLE | 1.8 | MO, WV | |
Agenda
- What Is a Private Foundation?
- Tax Definition
- Consequences of Private Foundation Status
- Private Foundation Excise Taxes
- Charitable Contribution Income Tax Deduction Limitations
- Grant Agreements as Contracts
- Identify the Current Grantee
- The Question of Fiscal Agents
- Section 4945 Taxable Expenditures
- Definition of Taxable Expenditures
- Expenditures for Nonsection 170(c)(2)(B) Purposes
- Lobbying
- Political Activities
- Grants to Individuals
- Grants to Organizations
- Due Diligence and Expenditures Responsibility
- Using Grants for the Purpose Made
- Grant Follow-Up
- Reporting to the IRS
- Special Tax Issues in Grant Making
- Grants to Individuals for Travel, Study and Similar Purposes, Including Scholarships
- Scholarships and Advance Procedures Requests
- Corporate Foundations and Employer Related Scholarships
- International Grant Making
- Foreign Grants - Equivalency
- Anti-Terrorism Issues
- Questions and Answers
