We update the foundation profiles whenever we receive a new 990PF for that foundation.
Under normal circumstances, a foundation must submit a 990PF or 990 to the IRS once per year. Foundations have 5 months to file the final return after close of their fiscal year, and then can apply for additional extensions, so this can mean that many months may go by before it’s submitted to the IRS. The IRS then needs to process the return, and convert it to a digital format, after which it is made publicly available.
The IRS supplies us with that tax form and we post it to our database as soon as we receive it, formatted so that it is keyword searchable. Once it is up online and available to our clients, it is sent to our data entry team to enter the grants. There can be a delay at this stage that affects the listing and charting of grants, due to the amount of content on the form and the number of such forms we have received. However, since the 990PF is searchable, the data is available to members in its raw format.
We update our foundation profiles based on the tax form, but addresses, deadlines, board members and granting officers are subject to change without notice and need to be verified at the time you are making contact with the organization.
Check these things before you write to the foundation, because otherwise, you risk getting them wrong.
The National Taxonomy of Exempt Identities is an attempt by the IRS to classify foundations by their interests. It provides a categorization system that begins with 10 broad categories and then drills down to flag more specific sub-categories. You can see the categories here:
National Taxonomy of Exempt Entities - Core Codes (NTEE-CC) Classification System
The increasing need for charitable dollars has forced some foundations to look more closely at where they grant money, and some have used this strategy to make grant seekers take more responsibility for ensuring that their need is within the purview of the foundation. It does not mean that the foundation is not giving money. It just means that they won’t accept an unsolicited request. The onus is on the grant seeker to make their cause known to the foundation in such a way that they will be invited to apply.
NB. In FoundationSearch there is a very easy way to see if a foundation is giving to new applicants, or only to the favored few that always receive their grants.
On every tax form you will find two sets of assets, they are the Ledger Value and the Fair Market Value.
The IRS reports the Ledger Value of the foundation’s assets for the purposes of determining assets, so that is the value we include on our foundation profiles.
Public Foundation: A foundation which runs on gifts from the general public at large. It is frequently set up to support a specific, named cause and only gives to that cause
Private Foundation: A foundation that has been set up by a single entity such as an individual, a family or a corporation. The income normally comes from a single source.
No. A nonoperating foundation is simply one that does not directly operate any charitable service or activity, but prefers to disburse funds so that other organizations may do so.
The IRS rules state that the foundation is required to distribute approximately 5% of the average fair market value of its assets each year. Qualifying distributions meeting this requirement include grants and certain operating expenses.
FoundationSearch is used primarily for prospecting potential foundations, whereas BIG Online is more suitable for researching corporations and government programs. You are also able to use BIG Online for cross border funding, i.e. in the US or Canada, and BIG Online also has the writing resources.
You can access the tutorial videos in the Education section of the website. Each video covers a specific module or group of related modules, so you can easily review the section you want. You can also contact Customer Support by email or phone, from 7:30am to 4:00pm PST, Monday through Friday.
To add another user you must have administrative privileges for your account. If you have those, log in with your username, go to Account Management on the User Dashboard and choose Power Users: Manage Account. The page you reach allows you to Edit or Delete current users, Add New Members and to change your password.
**Please note that your member ID and Password are case sensitive and should contain only alphanumeric characters**
It is a course that has been approved by CFRE and because of this we need to keep it secure, as the certification needs to be tracked.