Many are familiar with the notion that a foundation has to disburse roughly 5 percent of its assets every year in grants and other charitable expenses. However, more sophisticated foundations are starting to tap into the “other 95 percent” of their portfolio to further their charitable goals. While ESG investing has its champions and detractors, “impact” investments in the form of mission- and program-related investments (MRIs and PRIs) are becoming more widespread because such investments seek, to differing degrees, financial and charitable returns on their investments. In this presentation, we’ll discuss these “hybrid” financial and charitable options and describe their advantages and drawbacks.
You Will Learn:
- The special tax advantages conferred on foundations that make program-related investments
- How to gauge whether a program-related or mission-related investment will be the right choice for a foundation investment
- About the new breed of legal organizations that have cropped up in recent years to allow boards to pursue a “double bottom line” without breaching their fiduciary duties
Jeffrey D. Haskell, J.D., LL.M.
Jeffrey D. Haskell is one of the nation’s most knowledgeable speakers and authors in the areas of private foundation law, compliance, and taxation.
As Chief Legal Officer for the nation’s largest provider of comprehensive support services for private foundations, Mr. Haskell is responsible for providing guidance on legal and tax issues to the foundations that the company serves.
He works with and provides guidance to a team of attorneys, accountants, and support professionals who provide tax reporting services to clients of the company as well as support to foundations and their advisors on a range of issues including Program- and Mission-Related Investments, grants to individuals, expenditure responsibility grants, equivalency determinations, scholarship and award programs, set-aside projects, return preparation, and compliance with self-dealing, minimum required distributions, excess business holdings, jeopardizing investments, and taxable expenditure rules.
Articles by Mr. Haskell have appeared in Trust & Estates, Taxation of Exempts, and Private Wealth magazines. 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.
Prior to joining Foundation Source, Mr. Haskell was an associate at the law firms of Kronish Leib Weiner & Hellman LLP and Olshan Grundman Frome Rosenzweig & Wolosky, in the Tax and Trusts and Estates departments. Prior to joining Olshan Grundman, he worked at Coopers & Lybrand in the Business Tax Planning Group. Mr. Haskell is a graduate of Yeshiva University and the Benjamin N. Cardozo School of Law, where he was a member of the Cardozo Law Review. He received a Masters of Law in Taxation from New York University School of Law, where he was a member of the NYU Tax Law Review.
Registration Fee: $39
Archive: The archive recording will be available after the webinar in your FSPgo account (on the My Account tab).
CE Credits: There are no CE credits available for this program.
Note: This webinar was originally broadcast live on October 19, 2020.