Payday Mayday–Compensation Rules for Private Foundations and Public Charities

Private Wealth Services attorney Cara Santoro co-authored an article for Trusts & Estates Magazine about the compensation rules and requirements for charitable organizations. The article outlines the differences between private foundation and public charity rules regarding reasonable compensation. It emphasizes that both must ensure compensation is reasonable, necessary and not excessive to maintain tax-exempt status. The article also details the substantiation requirements for determining reasonable compensation to avoid excise taxes under the intermediate sanctions and excess benefit rules.

READ: Payday Mayday–Compensation Rules for Private Foundations and Public Charities (Subscription required)