Recordkeeping and archives

The 990-PF in a Nutshell: What You Need to Know

Posted on August 15, 2004

What is the 990-PF and who needs to fill one out? The 990-PF is the tax return used for all private foundations filing under tax-exempt status, which inventories all of a foundation’s assets, investments, revenue, expenses, and charitable disbursements throughout the fiscal year. It also lists foundation officers, trustees, and the number of staff, itemizes its grants, and gives information… Read More

Board Compensation: Reasonable and Necessary?

Posted on April 5, 2001 by Jason Born

Deciding whether to compensate or reimburse family foundation board members can be a difficult and complex decision. This Passages Issue Brief provides guidance on the legal regulations regarding compensation, suggestions for how to initiate a conversation among your board members about whether or not compensation is appropriate, and suggestions for how to develop a written policy based on this conversation… Read More

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