Private Foundations: Tax Law and Compliance 2013 Cumulative Supplement

Overview

The much-needed, annually updated treatice containing a summary of the federal tax rules applicable to private foundations

With more than 80,000 private foundations in the United States and the increasing scrutiny of the IRS, this essential supplement provides you with an extensive analysis of the tax regulations and other law for foundations. Written by two of the country's leading legal authorities on private foundations, this revised and ...

See more details below
Paperback (New Edition)
$137.20
BN.com price
(Save 8%)$150.00 List Price
Other sellers (Paperback)
  • All (9) from $90.99   
  • New (8) from $90.99   
  • Used (1) from $137.19   
Sending request ...

Overview

The much-needed, annually updated treatice containing a summary of the federal tax rules applicable to private foundations

With more than 80,000 private foundations in the United States and the increasing scrutiny of the IRS, this essential supplement provides you with an extensive analysis of the tax regulations and other law for foundations. Written by two of the country's leading legal authorities on private foundations, this revised and expanded edition includes practical tax compliance suggestions and in-depth legal explanations.

  • Covers everything from organizing and applying for tax-exempt status and managing mandatory distribution to reporting annually to the IRS and winding up a foundation's affairs
  • Builds logically from fundamental concepts and explanations to more complex organizational and legal issues
  • Other titles by Bruce R. Hopkins: The Law of Tax-Exempt Organizations, Tenth Edition, The Law of Fundraising, Fourth Edition, and many more
  • Other titles by Jody Blazek: Tax Planning and Compliance for Tax-Exempt Organizations Fifth Edition, Revised Form 990, IRS Form 1023 Preparation Guide, and Nonprofit Financial Planning Made Easy

Capturing all-new developments in the private foundations arena, this edition and new cumulative supplement presents you with line-by-line instructions, sample-filled IRS forms, and complete citations.

Read More Show Less

Product Details

  • ISBN-13: 9781118363096
  • Publisher: Wiley
  • Publication date: 11/6/2012
  • Series: Wiley Nonprofit Law, Finance and Management Series , #243
  • Edition description: New Edition
  • Edition number: 3
  • Pages: 268
  • Sales rank: 1,277,482
  • Product dimensions: 6.90 (w) x 9.90 (h) x 0.90 (d)

Table of Contents

About the Authors v

List of Exhibits xi

Book Citations xiii

Preface xv

Chapter 1 Introduction to Private Foundations 1

§1.1 Private Foundations: Unique Organizations 1

*§1.3 History and Background 1

§1.8 Private Foundation Sanctions 2

Chapter 2 Starting and Funding a Private Foundation 3

*§2.5 Acquiring Tax-Exempt Status 3

§2.6 Special Requirements for Charitable Organizations 6

*§2.7 When to Report Back to the IRS 6

Chapter 4 Disqualified Persons 7

§4.1 Substantial Contributors 7

*§4.2 Foundation Managers 7

*§4.5 Corporations or Partnerships 7

*§4.9 Terminating Disqualified Person Status (New) 7

Chapter 5 Self-Dealing 11

§5.2 Private Benefit Doctrine 11

§5.4 Sale, Exchange, Lease, or Furnishing of Property 11

§5.5 Loans and Other Extensions of Credit 13

*§5.6 Payment of Compensation 13

*§5.7 Indemnification and Insurance 17

§5.8 Uses of Income or Assets by Disqualified Persons 17

§5.11 Indirect Self-Dealing 18

*§5.12 Property Held by Fiduciaries 20

Chapter 6 Mandatory Distributions 21

§6.3 Measuring Fair Market Value 21

§6.4 Distribution Amount 25

*§6.5 Qualifying Distributions 25

§6.7 Satisfying the Distribution Test 28

Chapter 7 Excess Business Holdings 29

§7.1 General Rules 29

§7.3 Functionally Related Businesses 29

Chapter 8 Jeopardizing Investments 31

*§8.3 Program-Related Investments 31

§8.3 A Investment Frauds (New) 32

Chapter 9 Taxable Expenditures 37

*§9.2 Political Campaign Activities 37

*§9.3 Grants to Individuals 37

*§9.4 Grants to Public Charities 41

*§9.6 Expenditure Responsibility 46

§9.10 Excise Tax for Taxable Expenditures 47

Chapter 10 Tax on Investment Income 49

*§10.2 Reducing the Excise Tax 49

*§10.3 Formula for Taxable Income 50

§10.4 Reductions to Gross Investment Income 53

§10.5 Foreign Foundations 55

§10.7 Legislative Proposal (New) 56

Chapter 11 Unrelated Business Income 57

§11.3 Rules Specifically Applicable to Private Foundations 57

§11.4 Unrelated Debt-Financed Income 60

§11.5 Calculating and Reporting the Tax 60

Chapter 12 Tax Compliance and Administrative Issues 65

*§12.1 Successful Preparation of Form 990-PF 65

§12.2 Reports Unique to Private Foundations 66

*§12.3 Compliance Issues 68

Chapter 13 Termination of Foundation Status 91

*§13.1 Voluntary Termination 91

*§13.3 Transfer of Assets to a Public Charity 91

*§13.5 Mergers, Split-ups, and Transfers between Foundations 92

Chapter 15 Private Foundations and Public Charities 95

§15.2 Evolution of Law of Private Foundations 95

*§15.4 Publicly Supported Organizations-Donative Entities 96

*§15.5 Service Provider Organizations 100

*§15.7 Supporting Organizations 101

*§15.8 Change of Public Charity Category 110

Chapter 16 Donor-Advised Funds 113

*§16.9 Statutory Criteria 113

§16.10 Congressional Research Service Study 113

Chapter 17 Corporate Foundations (New) 117

§17.1 Corporate Foundation Overview 117

§17.2 Reasons for Establishment of Corporate Foundation 118

§17.3 Private Inurement Doctrine 119

§17.4 Disqualified Persons Rules 119

§17.5 Self-Dealing Rules 120

§17.6 Other Private Foundations Rules 127

Chapter 18 Nonprofit Governance and Private Foundations (New) 131

§18.1 State Law Overview 132

§18.2 Board of Directors Basics 136

§18.3 Principles of Fiduciary Responsibility 139

§18.4 Duties of Directors 140

§18.5 Board Composition and Federal Tax Law 142

§18.6 Sources of Nonprofit Governance Principles 143

§18.7 Relevant Nonprofit Governance Issues 171

§18.8 Nonprofit Governance Policies 195

*§18.9 Role of IRS in Nonprofit Governance 196

§18.10 Governance Principles and Private Foundations 204

Appendix A Sources of the Law 211

Cumulative Table of Cases 213

Cumulative Table of IRS Revenue Rulings and Revenue Procedures 217

Cumulative Table of IRS Private Determinations Cited in Text 221

Cumulative Table of IRS Private Determinations Discussed in Bruce R. Hopkins' Nonprofit Counsel 227

Cumulative Table of IRS Private Letter Rulings, Technical Advice Memoranda, and General Counsel Memoranda 231

Cumulative Index 249

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)