Accounting. We perform a complete
accounting of the Foundation's financial activities in accordance
with applicable law. We provide a report of the accounting to
the Foundation's Board of Directors on an annual basis.
Preparation of Tax Forms We prepare
all applicable federal and state tax forms for the Foundation.
Tax forms are forwarded to the Board for signature and filing.
Foundation Minimum Distributions We
communicate to the Board the amount required to be distributed
on an annual basis from the Foundation to charitable organizations.
The funds to pay charitable organizations do not come to our
firm; rather they go directly from the Foundation's financial
account to such organizations.
Calculation of Tax on Investment Income
We compute the amount of excise tax due on net investment income
(if any) and report such amount to the Board. Based upon that
information, the Board can then pay excise tax directly to the
taxing authority.
Written Notification of Gifts As the
foundation receives gifts, we prepare a gift receipt in accordance
with IRC guidelines that the board of directors can then review
and provide to the donors. |
