Have We Properly Verified the Tax-Exempt Status of Our Grantees?
Posted on January 11, 2017 by Adrian Bordone
Every grant award offers a potential risk that should be understood and properly mitigated. Providing grants to a charity that has had its tax-exempt status revoked — even unknowingly — can lead to the disbursement being considered a taxable expenditure, prevent foundations from meeting the annual 5 percent distribution requirement, and cause the IRS to levy excise taxes — stiff fines — on the foundations involved… Read More