While giving a presentation to a nonprofit board last fall (regarding the legal structure of their separately incorporated foundation), one of the board members asked me a pointed question: Does that mean we (the parent charity board) have fiduciary responsibility (i.e. liability) over our separately incorporated subsidiary? The question was specifically raising the question of...
Fundraising and donor relations can be complex – to put it mildly. Legally, outside of any advisory role contained in a written gift agreement, donors are not supposed to have any say (unless they hold board positions) over operations and activities of nonprofits. But, once the funds are contributed, with or without a written agreement,...
Has your nonprofit tried encouraging donors to make interest free loans to your organization? A friend asked me yesterday to assist him in making of a $400,000 interest free loan to a charity. Sounds simple. Think again. I mentioned a strange rule – that I had looked up a year or two ago – that...
I had such a great question emailed to me right after the Tax Relief Act passed: Could someone who had already withdrawn their 2010 RMD (Require Minimum Distribution from their IRAs) undo it in favor a IRA charitable rollover gift? They did give people until Jan. 31, 2011 to make their IRA charitable gifts to...
New York Times gives a try at planned giving coverage