Nonprofit Law Matters

Stephanie L. Petit

Posts by Stephanie L. Petit

Treasury Releases Final Regulations for Private Foundations Making International Grants Using Foreign Public Charity Equivalence Determinations

Posted in Grantmaking & Social Investing, International Charitable Transactions & Operations, Private Foundations

Treasury will release tomorrow final regulations regarding private foundations and their use of a process called “foreign public charity equivalence” or “equivalency determination.” Treasury’s hope in issuing these regulations is to facilitate international grantmaking while ensuring that foundation equivalency determinations are appropriately made. Background and 2012 proposed regulations. As explained in a prior post, before… Continue Reading

Foreign Public Charity Equivalence Repository Launched by Council on Foundations and TechSoup

Posted in Grantmaking & Social Investing, Private Foundations, Public Charities

In the wake of new private foundation regulations, I had previously written about the concept of foreign public charity equivalence repositories.  Our client TechSoup announced yesterday that their repository, built in collaboration with Council on Foundations, is now up and running. It is always exciting to see a client’s hard work come to fruition.

What Is Fiscal Sponsorship?

Posted in Public Charities

Fiscal sponsorship is widespread, but confusion remains about what it is.  This is no surprise, because the term has no single legal definition, and people use it in a wide variety of situations, correctly and sometimes incorrectly. Typically, a 501(c)(3) charity collaborates with another party so deductible contributions can be received and used to support… Continue Reading

Secretary Clinton Says Proposed Regulations “Clear the Way” for Equivalency Repositories

Posted in Grantmaking & Social Investing, International Charitable Transactions & Operations, Private Foundations, Public Charities

Private foundations making grants directly to foreign organizations generally must use one of two grantmaking procedures―expenditure responsibility or foreign public charity equivalency (“FPCE” for short).  In FPCE, a grantor makes a good faith determination, based on an affidavit of the grantee or on an opinion of counsel, that the foreign charity meets the basic 501(c)(3) public… Continue Reading

IRS Releases Proposed Regulations for Private Foundations

Posted in Grantmaking & Social Investing, International Charitable Transactions & Operations, Private Foundations

The Department of the Treasury and the IRS have just released proposed regulations for private foundations.  Here’s a look at what they say. Expanding class of tax practitioners on whose opinions private foundations can rely for foreign public charity equivalency.  Currently, private foundations wishing to make grants to non-U.S. charities generally have to exercise expenditure responsibility… Continue Reading

Embezzlement from a Charity: What to Do?

Posted in IRS, FTB & Attorney General Controversies, Nonprofit Governance & Ethics, Private Foundations, Public Charities

Theft from a charity is, fortunately, rare.  But it happens, perhaps more in tougher economic times.  From the charity’s perspective, the question is what to do when the theft is discovered.  As fiduciaries of the charity, its Board must take these situations very seriously, and carefully consider how best to protect the charity’s interests.  Every… Continue Reading


Posted in Uncategorized

We’re a 15-attorney firm (quietly assisted by 16 amazing staffers) dedicated solely to the practice of nonprofit, tax-exempt law.  We’re fortunate to have remarkable clients — granting foundations, public charities carrying out the good stuff our society needs, individual philanthropists, social welfare organizations, trade associations, and many others. With this blog, we hope to quickly… Continue Reading