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Abstract: 

Most family foundations are private nonoperating foundations that achieve their tax-exempt purpose by providing grants to other organizations. While no rule prohibits a family foundation from supporting the same organizations year after year, at least occasionally, a foundation will consider making a grant “outside the box,” to an organization with which it has no prior history. Foundations that regularly solicit grant requests may have established procedures for reviewing applications and vetting applicants. And, over time, their knowledge of past grant applicants and recipients becomes a measuring stick against which to compare current applicants. Newer foundations or those that historically have given to select, familiar organizations and that have not established review procedures can use publicly available information to identify those organizations that can put the foundation’s money to best use.

Keywords: Need for Independent Analysis;Exempt Organizations Select Check (EOSC)

Affiliations:  1: Strasburger & Price, LLP.