Marcum can manage the administrative and back office functions necessary to operate a private foundation, allowing more time and effort to be focused on furthering the organization's charitable mission.
Scope of Services
Philanthropy Planning Services
- Charitable strategies using donor advised funds, charitable remainder trust, charitable lead trusts and private foundations.
- Sophisticated gifting and estate planning strategies.
- Coordinate with charitable organizations to structure special gifts such as university chairs, fellowships, trusts and annuities.
- Engaging heirs in philanthropic endeavors.
Private Foundation Services
- Prepare and file the application for recognition of exemption.
- Preparation of foundation tax returns,including unrelated business income tax returns, if applicable.
- Preparation and filing of quarterly excise taxes.
- Perform full charge bookkeeping, financial statement preparation and accounting services.
- Management of charitable activities including charitable grant making; compliance of 5% distribution requirement and expenditure responsibility.
- Oversee public disclosure compliance and governance.
- Authentify and oversee full compliance with regard to prohibited transactions such as self dealing, jeopardizing transactions or excess business holdings.
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