Throughout Hemenway & Barnes’ history, nonprofit organizations, foundations and philanthropic funders have been at the core of our professional practice and personal passion. Private foundations of all sizes have engaged Hemenway & Barnes to provide counsel on various aspects of foundation management and practice, including:
- Formation and mission development
- Private foundation governance and compliance
- Private foundation mergers, divisions and transitions
- Tax planning and reporting
- Mission-related and program-related investing
- Tax controversies
- Trustee education and communication
- Real estate and conservation
We also offer a full range of philanthropic advisory and grant-making services to private foundations in addition to trusts, individuals, families and other entities.
- Counseled nonprofit organizations on tax-exempt organizations law, including the unrelated business income tax (UBIT), intermediate sanctions and private foundation self-dealing rules, fiscal sponsorship, and federal and state reporting (IRS Form 990 and Massachusetts Form PC).
- Helped a large private foundation divide into separate foundations for different family units.
- Advised on conversion of private foundations into donor advised funds.
- Procured abatement from the IRS of $10 million in tax assessments and penalties against a private foundation.
- Assisted a charity that inadvertently fell into private foundation status in the transition back to a public charity.
- Established guardrails for coordination among a family office, a private foundation, family investment entities and family members performing services.
- Developed a plan for direct assistance from private foundations, including direct COVID-19 relief grants.
Brad assists private foundations and public charities with navigating complex tax regulations and procedures, including receipt and disposition of complex charitable gifts and participation in innovative forms of impactful philanthropy.
You don’t just want to give your money away – you want to ensure that your philanthropic legacy is effecting real change in the world. We want to be a part of that. Every year, Hemenway & Barnes connects foundations with opportunities to maximize the social value of charitable assets.