Manage funds properly. It's critical to keep the foundation and your business as two separate entities with different accounts, Hurwit says. Secure individual employer identification numbers for each entity and do not comingle funds. If you make a donation from your corporation to the foundation, clearly state in your corporate records what the money will be funding. But don't funnel money from the foundation back into the business, Hurwit says, unless your attorney has cleared a transaction. He advises that it's best to assume that it's never permissible.