Can I Or Members Of My Family Be Employed By Members Of My Foundation?

Video Transcription:

Foundations technically can hire family members, although that’s an area that’s closely scrutinized by the IRS, particularly in recent years. So most private foundations do not pay salaries to family members. Now, if it’s the Gates Foundation and somebody in the family is actually working at a full-time job reviewing grants, or making investment decisions, or actually working, there’s no reason that person couldn’t get a salary. But a small foundation that has a couple million dollars, there’s not going to be a way to pay a salary out of that. Have any more questions? Contact us today to schedule a free consultation! Doane & DoaneTop rated Tax & Estate Planning Attorneys