book

Private Foundations: Tax Law and Compliance, 4th Edition

by Jody Blazek, Bruce Hopkins

May 2014

Intermediate to advanced

896 pages

28h 9m

English

Wiley

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§ 1.1 Private Foundations: Unique Organizations§ 1.2 Definition of Private Foundation§ 1.3 History and Background§ 1.4 Private Foundation Law Primer§ 1.5 Statistical Profile§ 1.6 Foundations in Overall Exempt Organizations Context§ 1.7 Definition of Charity§ 1.8 Operating for Charitable Purposes§ 1.9 Organizational Rules§ 1.10 Private Foundation Sanctions
§ 2.1 Choice of Organizational Form§ 2.2 Funding a Foundation§ 2.3 Estate Planning Principles§ 2.4 Foundations and Planned Giving§ 2.5 Acquiring Recognition of Tax-Exempt Status§ 2.6 Special Requirements for Charitable Organizations§ 2.7 When to Report Back to the IRS
§ 3.1 Private Operating Foundations§ 3.2 Conduit Foundations§ 3.3 Common Fund Foundations§ 3.4 Research and Experimentation Funds§ 3.5 Other Types of Foundations§ 3.6 Nonexempt Charitable Trusts§ 3.7 Split-Interest Trusts§ 3.8 Foreign Private Foundations

§ 4.1 Substantial Contributors§ 4.2 Foundation Managers§ 4.3 Certain 20 Percent Owners§ 4.4 Family Members§ 4.5 Corporations or Partnerships§ 4.6 Trusts or Estates§ 4.7 Private Foundations§ 4.8 Governmental Officials§ 4.9 Terminating Disqualified Person Status
§ 5.1 Private Inurement Doctrine§ 5.2 Private Benefit Doctrine§ 5.3 Definition of Self-Dealing§ 5.4 Sale, Exchange, Lease, or Furnishing of Property§ 5.5 Loans and Other Extensions of Credit§ 5.6 Payment of Compensation§ 5.7 Indemnification and Insurance§ 5.8 Uses of Income or Assets by Disqualified Persons§ 5.9 Sharing Space, People, and Expenses§ 5.10 Payments to Government Officials§ 5.11 Indirect Self-Dealing§ 5.12 Property Held by Fiduciaries§ 5.13 Early Terminations of Charitable Remainder Trusts§ 5.14 Additional Exceptions§ 5.15 Issues Once Self-Dealing Occurs
§ 6.1 Distribution Requirements—In General§ 6.2 Assets Used to Calculate Minimum Investment Return§ 6.3 Measuring Fair Market Value§ 6.4 Distributable Amount§ 6.5 Qualifying Distributions§ 6.6 Distributions to Certain Supporting Organizations§ 6.7 Satisfying the Distribution Test§ 6.8 History of the Mandatory Distribution Requirement
§ 7.1 General Rules§ 7.2 Permitted and Excess Holdings§ 7.3 Functionally Related Businesses§ 7.4 Rules Applicable to Certain Supporting Organizations§ 7.5 Rules Applicable to Donor-Advised Funds§ 7.6 Excise Taxes on Excess Holdings
§ 8.1 General Rules§ 8.2 Prudent Investments§ 8.3 Program-Related Investments§ 8.4 Investment Frauds§ 8.5 Excise Taxes for Jeopardizing Investments
§ 9.1 Legislative Activities§ 9.2 Political Campaign Activities§ 9.3 Grants to Individuals§ 9.4 Grants to Public Charities§ 9.5 Grants to Foreign Organizations§ 9.6 Expenditure Responsibility§ 9.7 Internet and Private Foundations§ 9.8 Spending for Noncharitable Purposes§ 9.9 Distributions to Certain Supporting Organizations§ 9.10 Excise Tax for Taxable Expenditures
§ 10.1 Rate of Tax§ 10.2 Reducing the Excise Tax§ 10.3 Formula for Taxable Income§ 10.4 Reductions to Gross Investment Income§ 10.5 Foreign Foundations§ 10.6 Exemption from Tax on Investment Income§ 10.7 Legislative Proposal
§ 11.1 General Rules§ 11.2 Exceptions§ 11.3 Rules Specifically Applicable to Private Foundations§ 11.4 Unrelated Debt-Financed Income§ 11.5 Calculating and Reporting the Tax
§ 12.1 Successful Preparation of form 990-PF§ 12.2 Reports Unique to Private Foundations§ 12.3 Compliance Issues
§ 13.1 Voluntary Termination§ 13.2 Involuntary Termination§ 13.3 Transfer of Assets to A Public Charity§ 13.4 Operation as a Public Charity§ 13.5 Mergers, Split-Ups, and Transfers Between Foundations§ 13.6 Termination Tax§ 13.7 Abatement
§ 14.1 General Rules§ 14.2 Gifts of Appreciated Property§ 14.3 Deductibility of Gifts to Foundations§ 14.4 Deduction Reduction Rules§ 14.5 Planned Giving Revisited60§ 14.6 Administrative Considerations
§ 15.1 Distinctions Between Public and Private Charities§ 15.2 Evolution of Law of Private Foundations§ 15.3 Organizations with Inherently Public Activity§ 15.4 Publicly Supported Organizations—Donative Entities§ 15.5 Service Provider Organizations§ 15.6 Comparative Analysis of the two Categories of Publicly Supported Charities§ 15.7 Supporting Organizations§ 15.8 Change of Public Charity Category§ 15.9 Noncharitable Supported Organizations§ 15.10 Relationships Created for Avoidance Purposes§ 15.11 Reliance by Grantors and Contributors§ 15.12 Other Rules§ 15.13 Public Safety Organizations§ 15.14 Termination of Public Charity Status
§ 16.1 Basic Definitions§ 16.2 General Concept of a Gift§ 16.3 Types of Donor Funds§ 16.4 IRS Challenges to Donor Funds§ 16.5 Prohibited Material Restrictions§ 16.6 Department of Justice Position§ 16.7 Public Charity Status of Funds§ 16.8 Interrelationship of Private Foundation Rules§ 16.9 Statutory Criteria§ 16.10 Department of Treasury Study§ 16.11 Congressional Research Service Study
§ 17.1 Corporate Foundation Overview§ 17.2 Reasons for Establishment of a Corporate Foundation§ 17.3 Private Inurement Doctrine§ 17.4 Disqualified Persons Rules§ 17.5 Self-Dealing Rules§ 17.6 Other Private Foundations Rules

Overview

Stay updated on the latest tax regulations with this private foundation tax manual

Knowledge of tax regulations surrounding private foundations isn't enough if you're an executive of such an organization or a professional supporting a tax-exempt foundation. Annual changes to IRS rules and increased scrutiny by regulators mean it's necessary for you to keep abreast of myriad changes that come into existence each year. From authors Bruce R. Hopkins and Jody Blazek comes the definitive guide for those responsible for guiding the financial and tax filing operations of private foundations.

The complexity of tax regulations related to private foundations extends to a level that is out of proportion to the relatively small number of such entities. Nonetheless, recent statutory requirements that apply solely to private foundations can make untangling filing and reporting activities overly burdensome without a developed knowledge of the underlying theory and practice. To navigate this maze of add-on regulations, Hopkins and Blazek provide background knowledge, in-depth explanations of regulatory changes, and real-world examples to bring as much simplicity to the process as possible.

Receive guidance from the 2007 Outstanding Nonprofit Lawyer Award recipient

Learn about the details of private foundation taxes from leading experts in the field

Make use of checklists and sample documents to prepare organizational filings

Utilize line-by-line instructions for completing exemption applications and forms

For professionals working closely with private foundations, including accountants, lawyers, and foundation executives, Private Foundations: Tax Law and Compliance, 4th Edition is a welcome resource for keeping your clients or your organization on the right track.