Rules for the RoadRules for the Road
How to keep private foundations cruising smoothly.
You may have discovered that operating a private foundation (PF) or “driving” a PF is actually easier than some initial naysayers predicted. While donor-advised funds (DAFs) may be the sportier charitable vehicle, PFs are a viable alternative and offer distinct advantages for certain drivers.
As a responsible owner or operator of a PF, your client will want to comply with the rules of the charitable road. Following the rules of the road will keep your client’s PF running smoothly and efficiently. Avoiding the attention of the Internal Revenue Service traffic cop is usually an unstated goal of all drivers.
Watch Out for Speedbumps
Large PFs often painfully hit an excise tax speedbump while cruising blissfully on the “PFs are tax-exempt” cr...
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