About the Book
Gain a Solid Understanding of the Rules That Apply to Foundations
Foundation trustees and officers bear the legal obligation to ensure that moneys entrusted to the foundations for charitable purposes will be used for those purposes. Grants must serve the public interest, and they must be made in accordance with the rules imposed under federal and applicable state laws and a grantor foundation’s own governing instruments.
However, foundation trustees and officers are faced with highly complex statutes and regulations. Without extensive training, how can they recognize when rules are about to be violated or know what questions to ask to elicit key information about an issue? For example,
- What types of grants are off limits to a charitable foundation?
- What steps does a charitable foundation have to take before making a grant to another foundation?
- What rules apply to foundations making loans to for-profit businesses?
- Are there restrictions on foundations owning for-profit businesses?
- What restrictions apply to foundation trustees borrowing funds from the foundations they serve?
- What types of grants cannot be counted toward meeting a foundation’s annual distribution requirements?
The wrong answers can be costly to foundations, their grantees, and the general public.
In this highly readable book, packed with useful examples, Daniel Belin addresses these and numerous other situations relating to charitable foundations. The book includes a glossary of key terms, and extensive endnotes provide additional detail for interested readers.
Foundation officers and trustees must have an adequate understanding of the basic principles to be able to identify problem situations and alternative ways to accomplish the foundation’s objectives, as well as recognize when the foundation needs experienced professional assistance to meet legal and regulatory requirements.