Course Details

Form 990-PF: Meeting IRS Demands For Fiscal, Grant And Other Data From Private Foundations

Webinar: ID# 1015641
Recorded CD or On-Demand
About This Course:
Tax professionals advising private foundations, as well as non-exempt charitable trusts treated as private foundations, must have current and comprehensive knowledge of the many tax rules unique to these types of exempt organizations. The information return Form 990-PF requires extensive disclosure of donations, receipts, and expenses, and outlines a number of potential taxable situations, including prohibitions on self-dealing, taxes on undistributed income, and excess business holdings. Each of these issues carries significant tax consequences to the foundation and potentially its insiders.

IRS rules require that private foundations make qualifying distributions of at least 5% of the fair market value of non-charitable assets and imposes a steep excise tax on undistributed income. Knowing how to calculate the minimum distribution requirement is crucial in advising private foundation clients.

The private foundation rules also impose taxes on net investment income, on "taxable expenditures" that do not meet the foundation's exempt purposes, and on self-dealing transactions. Tax advisors must know how to avoid transactions and events which can result in foundation-level taxes, as well as how to report and remedy those transactions which may jeopardize the foundation's exempt status.

Listen as our panel of authoritative advisors reviews the material requirements under Form 990-PF and its instructions, and better prepares you for future compliance.

  • Overview of Form 990-PF
    • Key elements of Parts I through XV
  • Critical compliance challenges faced with Form 990-PF
    • Calculation of net investment income
    • Calculation of qualifying distributions
    • Calculation of minimum distribution requirement
    • Disclosing program activities (direct charitable activities, program related investments, and grants)
  • Tax Planning Opportunities
    • 1% vs. 2% - tips to achieve
    • Excess grant carryovers
  • Best practices to avoid Chapter 42 penalty taxes
    • Self-dealing
    • Undistributed income
    • Excess business holdings
    • Jeopardizing investments
    • Taxable expenditures

The panel will provide insights and guidance on these and other critical aspects of Form 990-PF:
  • Qualifying distributions: Which distributions will the government permit as counting toward the foundation's 5% minimum distribution requirement?
  • Reporting financials and investment returns: Making thorough and accurate disclosures.
  • Reporting the foundation's activities: Which questions about business, lobbying and other activities have the most potential to trip you up?
Learning Objectives

After completing this course, you will gain an awareness of the material aspects and disclosure requirements of Form 990-PF. You will understand the rules governing excess business holdings, mandatory minimum distributions, prohibition against self-dealing, and jeopardizing investments. You will be able to advise clients on tax consequences of expenditures and transactions within the foundation.


Amanda Adams, Tax Partner
Blazek & Vetterling, Houston
Ms. Adams has substantial experience serving a broad range of nonprofit clients including social service agencies, civic, business and cultural organizations, private foundations, and health-care related organizations. She has presented seminars on nonprofit tax issues for the Houston Chapter of CPAs, Rice University’s Center for Philanthropy and Nonprofit Leadership, South Texas College of Law, and many others. Ms. Adams has also written and co-authored a number of informative articles on emerging and challenging tax issues.

Jeffrey D. Haskell, Chief Legal Officer
Foundation Source, Lake Success, N.Y.
Mr. Haskell works with and provides guidance to a team of attorneys, accountants and support professionals who provide tax reporting services to clients of the company as well as support to foundations and their advisors on a range of issues including program- and mission-related investments, expenditure responsibility grants, equivalency determinations, return preparation, and compliance with self-dealing, minimum required distributions, excess business holdings, jeopardizing investments and taxable expenditure rules.

Brian Yacker, Partner
YH Advisors, Huntington Beach, Calif.
Mr. Yacker has more than 20 years of tax, legal and accounting advisory work with exempt organizations. In that time, he has amassed extensive experience preparing and reviewing forms 990, 990-T and 990-PF.

Continuing Education Credits Available

This program has been approved for 2.0 CPE hours through Strafford Publications. CPE Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit.

Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.


To obtain CPE credit, attendees must participate in the live event, return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.

Credit Confirmation

Strafford will mail a certificate of credit within approximately 2 weeks of receiving an attendee's completed Official Record of Attendance—provided all required conditions have been satisfied.


Handout materials and the phone number for live presentations are made available to you 1 day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.

If you order a recorded version of the webinar, CD's will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.
Form 990-PF: Meeting IRS Demands For Fiscal, Grant And Other Data From Private Foundations
or via CD or On-Demand
Course Details
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