Private foundations are charitable organizations, generally established by an individual, a family or a single business. Private foundations can engage directly in charitable operations or can provide charitable support indirectly, such as by making gifts and grants. Subject to far stricter regulation than public charities, private foundations must adhere to a complex array of compliance rules.
At the Forefront
Handling a high volume of private foundation and nonprofit legal work, Stradley Ronon is known and highly regarded internationally for its skill and experience in representing public and private charities. Since 1969 when private foundations first appeared in the Internal Revenue Code, Stradley Ronon has been helping clients establish, obtain tax exemptions for, and, when necessary, dissolve private foundations. We also assist with regulatory compliance and legal issues, providing guidance to founders, board members, officers and employees on all aspects of private foundation operations and enabling them to focus on charitable giving.
Our legal services range from preplanning for proposed organizations to dissolution for those terminating, including:
- Converting private foundations to public charities, including supporting organizations and donor- advised funds.
- Providing guidance on tax rules, regulations and compliance matters.
- Counseling on foundation administration issues.
- Advising on funding issues.
- Securing and maintaining tax-exempt status.
- Advising on distributions.
- Offering guidance concerning disqualification, breach of fiduciary duty claims, and allegations of self-dealing and other wrongdoing.
- Preparing and filing federal 990-PF returns and state fiduciary income tax returns.
- Petitioning the court for approval of fundamental changes and handling other litigation when required.