Private Foundations and IRS Form 990-PF: From Basics to Complexities

The rules for private foundations are unique and complex, and many private foundations do not understand the rules and regulations that apply to them. For example, how many times are self-dealing transactions not identified until the annual Form 990-PF is prepared? And how many foundations miss out on planning opportunities to minimize taxes and look more attractive to potential donors and charitable partners? This live webinar will cover the basics to complexities of the Form 990-PF including calculation of the minimum distribution requirement, planning to minimize the investment income tax, and avoid common pitfalls and problems inherent with preparation of an accurate Form 990-PF. The live webinar will also cover the trigger questions within the Form 990-PF that signify potential excise taxes and discuss the benefits of qualifying as an operating foundation. This live webinar is critical for private foundation managers and board members so they can ensure their exempt purpose remains intact and excise taxes will not be assessed.

Learning Objectives:

• You will be able to discuss net investment income tax.
• You will be able to review self-dealing and other excise taxes.
• You will be able to explain Form 990-PF focus areas.
• You will be able to identify Form 990-PF pitfalls.

Agenda
 Private Foundations 

• Overview
• Minimum Distribution Requirement (MDR)
• Net Investment Income Tax
• Self-Dealing and Other Excise Taxes

   Form 990-PF Focus Areas 

• Income and Deductions – Investment or Charitable
• Meeting the 1% Excise Tax Rate
• Excise Tax Transactions Trigger Questions
• Qualifying Distributions and Meeting the MDR
• Grant Making
• Operating Foundations

   Form 990-PF Pitfalls 

• Common Mistakes
• Examples