If you are a donor, a grant-seeker, a philanthropic manager, or a professional adviser to any of them, you need to know the rules that distinguish various philanthropic structures.
This webinar will focus on private foundations and their special requirements, but will compare private foundations with donor advised funds, supporting organizations, and other forms of charitable activity.
With private foundations, we will focus on the 2% excise tax on investment income, self-dealing (compared to excess benefits), the minimum distribution requirement, excess business holdings, jeopardy investments and socially responsible investments, and taxable expenditures, including the limitations on lobbying. We will explain why many “conversion foundations” formed from the sale of charitable hospitals elected to become community foundations to avoid the limitations on lobbying.
We will discuss the relevant tax information returns and what one can learn from their disclosures. We will talk about termination of a private foundation or a donor advised fund.
We will discuss the private foundation rules not only from the perspective of private foundation managers seeking to comply, but also from the perspective of grant seekers seeking to fit their projects within the limitations of a private foundation’s program.
We will discuss alternate means for charitable activity, including the Chan Zuckerberg Initiative (a limited liability company) and the gift of the Philadelphia Inquirer to The Philadelphia Foundation. We will also discuss how Newman’s Own Foundation resolved its excess business holdings dilemma and how that could be a benefit to other donors.
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Participants will receive a package of materials from Nonprofit Issues® and will have the opportunity to ask questions during the presentation. Any number of persons may participate at the same location for the same low price. Similar webinars are offered at more than twice the cost.
What is a webinar? A webinar is primarily a telephone conference call. You can participate alone or gather people around your conference phone and ask your questions. In addition to the audio portion, you can also follow along on-line as we review a PowerPoint presentation.
This program is presented in conjunction with the Pennsylvania Association of Nonprofit Organizations (PANO).
This program is approved to provide continuing legal and continuing professional education credits for lawyers and accountants in Pennsylvania.
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