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COMPARING PHILANTHROPIC VEHICLES: IRS Return and Investments LEGAL COUNSEL FOR PHILANTHROPY AND THE NONPROFIT SECTOR

COMPARING PHILANTHROPIC VEHICLES: IRS Return and Investments

INFORMATION AND RESOURCES ON NONPROFIT LAW & REGULATION
      NONPROFIT LAW LIBRARY     STATE-BY-STATE REGISTRATION & COMPLIANCE

Comparing Philanthropic Vehicles: IRS Return and Investments

Public Charity Status Donor Advised Funds (DAF/PC) Public Charity (PC) Private Operating Foundation (POF) Private Nonoperating Foundation (PF)
Annual IRS Return Yes, Form 990, but account holder not responsible for return. Yes. All public charities, regardless of size, must file the IRS Form 990-N, 990-EZ or 990. The due date is 4.5 months after the close of the fiscal year. Note that there are some exemptions, primarily for churches and similar organizations. Yes. IRS Form 990-PF, due 4.5 months after the close of the fiscal year. Yes. IRS Form 990-PF, due 4.5 months after the close of the fiscal year.
Investments Account holder has limited control over how assets are managed. PCs have full control over how assets are invested subject to prudent investor rules. POFs have full control over how assets are invested subject to prudent investor rules. PFs have full control over how assets are invested subject to prudent investor rules.
= more restrictive

Other considerations:

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