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Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition
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Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition

by Jody Blazek
March 2019
Intermediate to advanced content levelIntermediate to advanced
272 pages
7h 58m
English
Wiley
Content preview from Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition

CHAPTER 12Private Foundations—General Concepts

  1. § 12.2 Special Rules Pertaining to Private Foundations
    1. (a) Types of Private Foundations
    2. *(c) Definition of Special Terms
    3. (d) Conversion of Public Charity to Private Foundation
  2. § 12.4 Termination of Private Foundation Status
    1. (d) Conversion of Private Foundation into a Public Charity
    2. (e) Mergers, Split‐Ups, and Transfers between Foundations
    3. (g) Notifying the IRS

§ 12.2 Special Rules Pertaining to Private Foundations

(a) Types of Private Foundations

p. 280. Add to footnote 18:

Also see § 15.4(b) and § 53.4942(a)‐3(c)(2)(iv).

(c) Definition of Special Terms

p. 282. Add after second sentence in Substantial Contributor paragraph:

For self‐dealing purposes only, this term does not include any charitable organization including a private foundation.1

*p. 284. Add to Family Members paragraph:

Conversion of a nongrantor trust to a grantor trust was not considered a transfer of property subject to self‐dealing rules.2

p. 284. Add to Other Disqualified Persons paragraph:

The self‐dealing prohibition extends to transactions or other arrangements between a corporate foundation and the for‐profit business that is related to it, except the positive public recognition accorded a for‐profit company due to the charitable activities of its corporate foundation is not the type of private benefit that is a transgression of the self‐dealing rules.

The directors and officers of a for‐profit organization that control a corporate foundation are ...

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Publisher Resources

ISBN: 9781119538196Purchase book