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Abstract: 

Foundations sometimes attract unwanted attention in the media, and the resulting anxiety can lead administrators to disclose too much, or too little. As a general rule, it is rarely a good idea to unnecessarily withhold information that is going to “come out” eventually. And, tax-exempt nonprofit organizations are subject to a variety of public disclosure rules pursuant to which they must make certain information available to the public. At the same time, a foundation reasonably might want to manage the flow of information, whether to limit disclosure of damaging facts, slow the pace of a frenetic attack, or protect itself from a harassment campaign. By understanding the applicable rules, a foundation can meet its legal obligations while avoiding undue (or overly swift) disclosure. This article spells out a series of practical guidelines for what must be disclosed, what should be disclosed, and what should not and need not be disclosed.

Keywords: Federal Disclosure Requirements; IRC §6014; Rules for Public Inspection; Whistleblowers; Harassment

Affiliations:  1: Strasburger & Price, LLP.