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.
Related News
December 17, 2019
Tax Flash
Tax Extender Bill Contains Repeal of 512(a)(7) and Change in Private Foundation Tax Rate
After negotiating over the weekend, leaders in the House and Senate came to an agreement on a number of expired and expiring tax credits as ....
October 10, 2019
As Seen In
Bloomberg News quoted Mid-Atlantic Regional Tax Partner-in-Charge Edward Reitmeyer, in an article about the October 15 tax filing deadline, the first under the Tax Cuts & Jobs Act of 2017.
Ed Reitmeyer, the Mid-Atlantic regional partner-in-charge of Tax Services at accounting firm Marcum LLP, said he emailed his staff in late July and September to warn ....
June 10, 2019
Tax Flash - Nonprofit & Social Sector
The Impact of the TCJA on Charitable Organizations
Many sources are predicting that charities may see a substantial difference when individuals start filing their 2019 returns as individuals become more familiar with potential ....
April 08, 2019
As Seen In
Hartford Business Journal quoted Nonprofit Tax Leader Frank Smith in an article about the impact of the new tax law on fundraising.
Some local nonprofits are seeing fewer donations in wake of federal tax law changes.
January 11, 2019
As Seen In
The Hill published an article by Nonprofit Tax Leader Frank Smith about the misunderstood world of private foundation tax rules.
Beyond the media craze and the flexing of muscles by the New York Attorney General's Office and advisers of the Trump Foundation, there are lessons ....
December 21, 2018
As Seen In
TriplePundit published 20 Questions for Private Foundations from Raffa - Marcum's Nonprofit & Social Sector Group
Raffa - Marcum's Nonprofit and Social Sector Group, a service of Marcum LLP, recommends 20 questions that can help guide private foundations in remaining compliant ....
December 21, 2018
Press Release
20 Questions for Private Foundations from Raffa-Marcum’s Nonprofit & Social Sector Group
Raffa - Marcum's Nonprofit and Social Sector Group, a service of Marcum LLP, recommends 20 questions that can help guide private foundations in remaining compliant ....
November 07, 2018
As Seen In
Accounting Today announced the availability of the 2018 Marcum Year-End Tax Guide.
Marcum LLP released its 2018 Year-End Tax Guide on Wednesday, providing advice to taxpayers and tax professionals about how to handle the Tax Cuts and ....
November 07, 2018
Press Release
Marcum LLP Releases 2018 Year-End Tax Guide: Reference Tool for Tax Planning
Marcum LLP today released its 2018 Year-End Tax Guide. This year's guide includes 17 chapters discussing how taxpayers are affected by the Tax Cuts & ....
September 17, 2018
Tax Compliance
Tracing of Interest Expense Related to Debt-Financed Distributions
When proceeds are received from a loan, there are various tax consequences depending on whether the borrower is the taxpayer or an entity owned by ....
June 04, 2018
Tax Reform
2018 Gift and Estate Tax Changes under the Tax Cuts and Jobs Act: Transfer More Wealth Tax-Free
The Tax Cuts and Jobs Act (TCJA) of 2017 introduced a wide array of changes to most areas of the tax law beginning with the ....
March 13, 2018
As Seen In
Inc. magazine quoted Mid-Atlantic Regional Partner-in-Charge of Tax & Business Services Ed Reitmeyer in an article about errors in the new federal tax law that could cost taxpayers big money.
Many entrepreneurs have celebrated President Trump's signature legislative achievement, the 2017 Tax Cuts and Jobs Act, for decreasing their annual tax bills.
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