Private Foundation Pointers: How to Compensate Board Members Fairly ... and How to Know When Donating Real Estate and Tangible Assets to a Foundation Makes Sense
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Jeffrey Haskell, chief legal officer for Foundation Source, will offer guidance on two subtleties of private foundations:
Board Compensation: When individuals devote time to serving on a foundation’s board, they expect to be fairly compensated for their time and effort. Unfortunately, because of a few bad actors, the issue of compensating insiders for their work on a foundation has become something of a lightning rod for controversy. Learn why compensation must be “reasonable" and paid for "personal services,” and how failure to do so can expose both the foundation and compensated individual to stiff penalties and public derision.
Donations of Real Estate and Tangible Assets: Donors can contribute all sorts of assets to a private foundation—art, jewelry, intellectual property, even helicopters. Learn when these donations make sense for the donor and the foundation.
Jeffrey D. Haskell, J.D., LL.M. is a leading expert in the areas of private foundation law, compliance and taxation. He is chief legal officer for Foundation Source, the nation’s largest provider of management solutions for private foundations, a role in which he provides guidance on legal and tax issues to the company’s foundation clients and their advisors. He has worked with the firm since its inception in 2001.
Articles by Mr. Haskell have appeared in multiple legal, financial and philanthropy-related publications. Additionally, he is a frequent speaker at conferences, and estate and tax planning councils across the U.S. Mr. Haskell is involved in pro bono work for public charities and has served as an adjunct lecturer at Baruch College of Accountancy, where he taught corporate tax law.
