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Private Foundation Requirements and Restrictions

Gain a better understanding of tax law surrounding private foundations.Working with private foundations, whether you are an attorney, accountant, other advisor, or a staff member, requires that you have at least a basic understanding of the regulatory environment in which the foundations operate. It is important to learn the current developments affecting charitable giving and private foundations and how to avoid pitfalls that can lead to penalties for failure to comply with the applicable IRS provisions and regulations. This topic will provide you with an overview of the relevant provisions of the internal revenue code and treasury regulations pertaining to foundations, and aid you in understanding the latest developments in foundation tax law, management and governance.


Runtime: 89 minutes
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • Basic Definitions
  • Deductibility of Charitable Contributions

Governance and Administration

  • Self-Dealing Prohibitions
  • Annual Distribution Requirements
  • Good Governance Practices

Private Foundation Investments

  • Jeopardy Investments
  • Mission Related Investments
  • Excess Business Holdings
  • Unrelated Business Income Tax
  • UPMIFA

Private Foundation Grantmaking and Taxable Expenditures

  • Individual Grants
  • Expenditure Responsibility Grants
  • Program-Related Investments
  • International Grantmaking
  • Lobbying and Campaign Intervention

Reporting and Disclosure

  • IRS 990-PF and 990-T
  • Investment Excise Tax
  • Public Disclosure Requirements
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on March 22, 2017.

Call 1-866-352-9540 for further credit information.

  • AL CPE
     
  • This course is acceptable for 1.5 live credit hour(s) through the Alabama State Board of Public Accountancy.
     
  • GA CPE
     
  • This program is applicable for CPE credit. *The Georgia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IA CPE
     
  • This program is applicable for CPE credit. *The Iowa State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IN CPE
     
  • This program is applicable for self study CPE credit. *The Indiana State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • KY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Kentucky State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Massachusetts State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MD CPE
     
  • This course is not pre-approved for CPE credit in your state however, it is applicable. *Please check the rules and requirements in your state for compliance.
     
  • ME CPE
     
  • This Ondemand program is applicable for CPE credit. *The Maine State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MI CPE
     
  • This Ondemand program is applicable for CPE credit. *The Michigan State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MO CPE
     
  • This Ondemand program is applicable for CPE credit. *The Missouri State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MT CPE
     
  • This Ondemand program is applicable for CPE credit.* *The Montana State Board of Accountancy has final authority on the acceptance of individual courses and providers. Please check the rules and requirements for CPE compliance and calculate the amount of credit hours you can claim for self study courses.
     
  • ND CPE
     
  • This Ondemand program is applicable for CPE credit. *The North Dakota State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NH CPE
     
  • This Ondemand program is applicable for CPE credit. *The New Hampshire State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NV CPE
     
  • This Ondemand program is applicable for CPE credit.*The Nevada State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • OH CPE
     
  • This Ondemand program is applicable for CPE credit. *The Ohio State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • PA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Pennsylvania State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • TX CPE 1.5
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.5 hours of continuing professional education.
     
  • VA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Virginia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • WA CPE
     
  • This Ondemand program is applicable for CPE credit.* *Please check the rules and requirements in your state for compliance.
     
  • WY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Wyoming State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kendis Key Muscheid

Kendis Key Muscheid

Ballard Spahr LLP

  • Partner with Ballard Spahr LLP
  • Focuses practice on the representation of nonprofit, tax-exempt organizations, and donors making charitable gifts, assisting in all aspects of tax, corporate and regulatory matters
  • Clients include a variety of 501(c)(3) and other tax-exempt organizations, such as private foundations, supporting organizations, universities, charter schools and research institutions, hospitals and their related foundations, religious entities, museums, social welfare organizations, trade associations, and groups dedicated to the arts
  • Advises clients on the qualifications for tax exemption, conversions to and from tax-exempt status, obtaining and maintaining favorable tax treatment, reporting and government filings, and the creation and operation of supporting organizations
  • Counsels organizations on nonprofit governance, advocacy issues, unrelated business income tax matters, endowment creation and management, restructuring multi-tier entities, raffles and sweepstakes, and issues involving charitable solicitations, mergers, and acquisitions
  • Also represents clients during IRS audits and appeals processes
  • Named in Best Lawyers in America, Nonprofit/Charities Law and Tax Law (2005-2017), and was voted Best Lawyers, "Lawyer of the Year" Non-Profit/Charities in both 2014 and 2017 in Phoenix, Arizona; has achieved the highest rating in the Martindale-Hubbell Law Directory and was the 2016 recipient of the Arizona Foundation for Women's Marilyn R. Seymann Award for her work in the nonprofit community
  • Frequent speaker on topics in the area of tax-exempt organizations; she volunteers with a number of nonprofits in the community, and is a current Board member of UMOM New Day Centers
  • Can be contacted at 602-798-5410 or [email protected]
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 399967
Published 2017
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