Nonprofit Representation

Private Foundations

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.

Representative Experience

• 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.