Private Foundation & Supporting Organization Overview

A private foundation (PF) is generally founded by an individual, a family, or a group of individuals that has trustees and/or directors that are responsible for managing their funds and program.  By making grants to other non-profit organizations, PFs aid charitable, educational, religious, and other activities that serves the public good. 

A supporting organization (SO) has a close relationship with at least one other non-profit organization.  It can make grants and perform the operations necessary of a public charity.  The benefits that are offered are similar to a private foundation, but typically cost less and have superior tax benefits.  While a PF has complete control of all grant-making, a SO may recommend grants and organizations, but the parent organization has significant input in final decisions. 

CTAC Operational Services

  • Monitor distributions based on provisions, asset valuations, and Federal & State requirements
  • Review all investment transactions for accuracy and IRS compliance
  • Request and coordinate the receipt of the distribution amount to be paid by the investment managers
  • Ensure foundation distributions are to qualified organizations
  • Secure all accounting records pertaining to the foundation
  • Report on annual grant distributions
  • Prepare summary accounting of activity
  • Monitor opportunities for tax saving benefits based on IRC 4940e
  • Assist with tax planning made possible by provisions and investment performance

Website Access

  • Critical building block for collaboration, partnership and communication
  • Immediate access to information needed for foundation board meetings
  • Historical board member information, such as biographies and skills
  • Basic documents that created the foundation
  • Current and past grant requests
  • Financial accounting
  • Federal and State tax returns

Federal, State & Attorney General Reporting Services

  • IRS Form 990-PF, 990-T, 99, 4720 and supplemental schedules, 8282, 8283 (for publicly traded securities only), required tax forms and schedules and Attorney General filings