Governance & Tax Guide

Private Foundation Governance & Tax Guide

Our deep experience in the non-profit sector has proven essential to the 500+ private foundations we serve. The expertise of our specialists, shared in this whitepaper, is key to developing a “right-sized” approach to organizational structure, operations, internal controls, governance, tax compliance, investing, grant-making activities and more.

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Summary: Private Foundation – Governance & Tax Guide

Private foundations can vary greatly in terms of their size and structure, so it's crucial to comprehend the resources and constraints at your disposal when establishing an effective operational strategy for your foundation. What may have worked for one foundation may not necessarily be relevant for another. This white paper discusses essential operational and tax factors that foundations must understand when creating and operating a private foundation.

Our team of seasoned experts, who know what issues are most important and how to help clients navigate them, explores the essentials of running a private foundation. We delve into key operational considerations, such as establishing the foundation under state law, defining its mission, applying for tax exemption, implementing governance and financial controls, and more. This white paper also covers important tax considerations like annual filings, excess business holdings, taxable expenditures, the Minimum Investment Return (the 5% Payout), and more. 

This information, along with other valuable insights and practical advice, will hopefully give you a baseline understanding of a foundation's operational and tax considerations. While every foundation is different and may face unique situations, this Guide will help you navigate the implications of creating and administering your private foundation.

For over 20 years, PKF O'Connor Davies' Private Foundation Services team has been dedicated to providing exceptional accounting, assurance, tax, and advisory services to the private foundation sector. Our extensive expertise has helped us steer countless clients through a wide variety of challenges - big and small - and earned us a reputation as a trusted advisor to over 500 private foundations. 

Private foundations offer a strategic charitable planning option to individuals looking to manage and increase funds while making a positive impact on their communities. They manage and invest charitable assets, make grants to charitable organizations, and comply with administrative reporting and tax requirements, among many other important responsibilities. 

Starting a foundation can be a daunting process, and choosing the right structure is crucial for achieving long- and short-term goals and achieving overall success. We hope you discover some advantages and important insights for your organization with our informative white paper on governance and taxes for private foundations.

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