Today, BMWL managing partner Mike Batts is pleased to announce the formation of a special team within our firm to represent private foundations. The Private Foundations Team is a cross-disciplinary group of BMWL professionals committed to providing extraordinary service to nonprofit organizations that are classified by the IRS as private foundations.
“I know the complex regulations and reporting requirements that private foundations face. And our team understands that they need a CPA firm that stays up-to-date on the latest laws, regulations, cases, and rulings to help these foundations remain compliant, avoiding costly penalties and preserving their exempt status,” stated Batts. “Additionally, it is essential to have a CPA firm that actively navigates complex tax advantages – helping foundations minimize their tax burdens and ensuring that more of their funds go toward supporting their philanthropic goals.”
Kaylyn Varnum, a partner in the firm and the assistant national director of the firm’s tax practice, will lead the new team. “I am glad that we have created this practice group to focus on the unique professional service needs of private foundations,” said Varnum. “Our goal is to serve them with excellence in the details.”
The Private Foundations Team consists of a cross-section of tax and audit/assurance professionals who have worked with foundations of all types and sizes, from small foundations to those with assets in excess of $1 billion. The appointed team members maintain a robust awareness of professional and authoritative guidance in practice areas related to foundations.
The initial team will consist of the following professionals within BMWL:
It is a powerful inspiration to BMWL team members to serve organizations, like private foundations, whose missions improve the lives of others.
If you would like to learn more about how the BMWL Private Foundations Team can serve your foundation, please call us at 800.960.0803 or email us at [email protected].