This program was recorded on May 19, 2022

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 1.39% 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 dilemma of excess business holdings and how that could be a benefit to other donors.

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