What do Donald Trump and Hillary Clinton share in common? Among so many things political and otherwise (go ahead, use your imagination), they both head up charitable foundations, which have recently received media scrutiny for apparently operating outside legal boundaries. What are the problems? More importantly for us regular folks, what can prudent and responsible nonprofit leaders learn from these examples? We will focus here on several areas related to:
- State charitable regulation requirements,
- Tax exemption principles against private benefit for nonprofit insiders, and
- IRS requirements for staying on course with an organization’s tax-exempt purpose.