Investments
Taxes
Expenditures
Financial Management
Audits

Investments

Understanding Private Foundation Regulations: Jeopardy Investments
Fidelity Private Foundation Services
A good summary of a foundation’s basic legal compliance issues regarding jeopardizing investments.

Asset Allocation and Spending Policy Analysis Questionnaire (PDF)
IKnow.org, Raffa & Associates, P.C.
This questionnaire is designed to collect information necessary to perform an analysis of a foundation’s endowment fund based on current asset allocation, spending policy and other factors that have a material impact upon the fund’s total return..

Financial Committees
BoardSource
This guidebook provides an in-depth look at the functions of a board’s finance, audit and investment committees. Available for purchase.

Engaging Investment Advisors (PDF)
Association of Small Foundations
This article outlines the key considerations and criteria for foundations to consider when seeking investment help

Investing Wisely (PDF)
Council on Foundations
This “Family Matters” newsletter reprint includes articles on investing in a changing economy, changing asset allocations and choosing investment consultants.

Managing Foundation Investments: Policies & Practices (PDF)
Council on Foundations
This booklet covers several key legal and ethical issues regarding foundation investments.

Conflicts of Interest, Part III: Foundation Investments
Council on Foundations
This article covers the basic legal and ethical issues regarding conflicts of interest related to foundation investments.

Taxes

Private Foundation Excise Taxes
Internal Revenue Service

Life Cycle of a Private Foundation - Unrelated Business Income Tax
Internal Revenue Service

Twenty Questions Your Tax Advisor Should Ask
Council on Foundations

Private Foundation Audit & Tax Preparation Checklist (PDF)
Council on Foundations
A checklist of private foundation schedules and other information required prior to an audit examination and tax preparation.

Board Briefing on Payout (PDF)
Council on Foundations
This briefing offers guidance on payout strategies for reserving foundation endowment value over time vs. spending more on current needs.

Sustainable Payout for Foundations (PDF)
Council of Michigan Foundations
This study evaluated the sustainable level of payout for private foundations in light of the actual experience of a sample of Michigan private foundations with diversified portfolios.

Foundation Expenses and Compensation: How Operating Characteristics Influence Spending (PDF)
Urban Institute, The Foundation Center, GuideStar
This report documents the dimensions of foundation expenses and compensation and reveals that major differences in foundations’ operating styles have a great impact on their expense levels.

Travel and Other Expense Reimbursement Policy for Nonprofit Organizations (PDF)
Minnesota Attorney General’s Office

Financial Management

Basic Overview of U.S. Nonprofit Financial Management
Authenticity Consulting
An overview of the basic processes involved in nonprofit financial management, including chart of accounts, internal controls, cash flow forecasts, financial statements and more.

Financial Committees
BoardSource
This guidebook provides an in-depth look at the functions of a board’s finance, audit and investment committees. Available for purchase.

Sample Financial Statement and Financial Report
Council on Foundations, Raffa & Associates, P.C.

Thinking About an Audit? Read This First
Council on Foundations
The article describes the basics of the auditing process, the kinds of grantmakers that get audits, and a checklist for choosing an auditor.

The Audit Committee: Roles & Responsibilities (PDF)
Council on Foundations

Audit Committee Best Practices (PDF)
Council on Foundations

Independence Questionnaire for Audit Committee Members (PDF)
Council on Foundations
Audit committee members may complete this example questionnaire to assist in determining their independence.

Request for Proposal for Audits (PDF)
Council on Foundations
A checklist of what should be included in an RFP for selecting an auditing firm.

Private Foundation Audit & Tax Preparation Checklist (PDF)
Council on Foundations
A checklist of private foundation schedules and other information required prior to an audit examination and tax preparation.

The Sarbanes-Oxley Act and Implications for Nonprofit Organizations (PDF)
BoardSource, Independent Sector
This document summarizes the implications of the Sarbanes-Oxley Act’s provisions for nonprofit auditing practices.