Webinar

Legal Aspects of Fund Management

When: 
Wednesday, February 10, 2021 -
10:00am to 3:00pm EST
Where: 
Virtual Workshop
Cost: 
Members: $50.00
Non-Members: $100.00
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While most community foundation staff are not lawyers, they are frequently expected to make decisions in the legal realm.

Community foundations are collections of funds. In most cases, these funds are governed by a fund agreement, a legal agreement between the donor and the foundation. The management of charitable funds is governed by IRS Tax Code and state law. Added to this are the guidelines of the Financial Accounting Standards Board (FASB), which are not always consistent with legal guidelines. And then there are donors, who occasionally want to do something unusual, challenging and sometimes impossible with their fund.  

All this puts the community foundation in a complex legal environment. Join this virtual workshop to be better informed on legal aspects of fund management.

Hear from legal counsel experts in charitable gift laws who will:

  • Explain the concepts in fund agreements
  • Review laws that affect fund management
  • Discuss fund management policy and practice
  • Review approaches to conducting a fund audit
  • Review the process involved in changing a fund (type, purpose, etc.) or closing a fund
  • Provide guidance on when and how to exercise variance power
  • Provide guidance on working the Indiana Attorney General on fund changes

This program is designed specifically for community foundation staff and boards. A recording will be provided to those who register.
 

Speakers

Phil Purcell, CFRE, MPA/JD
Consultant for Philanthropy, LLC
Senior Counsel for Philanthropy for the Fellowship of Catholic University Students (FOCUS)
Adjunct Faculty, Indiana University Maurer School of Law and Lilly School of Philanthropy

Lead attorney for IPA's Foundation Legal help Desk, Phil also teaches courses on law and philanthropy, nonprofit and tax exempt organization law, and planned giving as adjunct faculty for the Indiana University Maurer School of Law (Bloomington) and Indiana University Lilly School of Philanthropy and Fundraising School (Indianapolis). Phil serves as a member of the Tax Exempt Organization Advisory Council for the Internal Revenue Service (Great Lakes states) and has served on the board of directors for the Partnership for Philanthropic Planning and Association of Fundraising Professionals Indiana. He is an attorney and member of the American and Indiana State Bar Associations. Phil received his B.A. degree from Wabash College and his J.D. and M.P.A. degrees from Indiana University. READ MORE.

Deputy Attorney General Tamara Weaver, Office of the Indiana Attorney General
Tamara Weaver is a native Hoosier, born and raised in Chesterton, Indiana. She obtained her B.A. in Political Science from Valparaiso University and earned her law degree from the Valparaiso University School of Law. Tamara is also a Lilly Endowment Scholar from Porter County. She has been with the Office of the Indiana Attorney General since 2010 in a variety of capacities and currently serves as a Deputy Attorney General in the Consumer Protection Division. Tamara works on a variety of cases including charitable trusts and institutional funds, nonprofits, educational institutions, and other matters involving enforcement of the State’s consumer protection laws.

 

This program is part of the Community Foundation Midwest Webinar Series, which is produced in partnership by Indiana Philanthropy Alliance, Council of Michigan Foundation, and Philanthropy Ohio. Members of CMF and POH should register with their respective association. UPCOMING WEBINARS  |  WEBINAR RECORDINGS

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