Our KSM Charitable Foundation Services team utilizes our deep expertise in accounting and not-for-profit tax to help private foundations like yours breathe easier, knowing they are in full compliance and have the appropriate systems in place. When it comes to the unique tax regulations specific to private foundations, good stewardship is essential, and it should be reflected on every tax filing.

Allow us to advise you on such issues as:

• Review of all expenses based on IRS guidelines
• Review of self-dealing, tipping, and control issues
• Calculation of the 5% distribution requirement
• Creating a private foundation and application for tax-exempt status
• Advice regarding proper procedures and documentation to avoid “excess benefit transactions” or private inurement
• Structure of executive compensation, deferred compensation plans, and qualified retirement plan benefits for employees
• Treatment of lobbying or political activities

We can also manage all or a portion of your grant process by:

• Establishing and monitoring grant review and approval timelines
• Verifying grantees as qualified organizations and individuals
• Providing, summarizing, and monitoring grant applications, agreements, and reports
• Preparing and distributing grant checks and all communication with grantees
• Paying fees and expenses
• Tracking and continually updating financial records
• Integrating matching contribution and volunteer hours reports into grants and financial reporting

Additionally, we can assist you with:

• Detailed financial analysis
• Grant activity and transaction reports
• Grant history and analysis
• Fees and expense reporting
• Integrating asset portfolio into financial reporting
• Preparing federal and state tax returns

Ready to talk about how we can help your foundation? Contact our team to get started.

CONTACT A CHARITABLE FOUNDATION SERVICES ADVISOR