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

Recording of a 110-minute CPE webinar with Q&A

Conducted on Tuesday, July 25, 2017

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will prepare accounting and tax advisers to private foundations to handle all aspects of Form 990-PF compliance with a thorough review of the material requirements and instructions. The panel will discuss potential risk areas for tax professionals, not only in preparing the return, but in advising clients on best practices for operating the foundation.


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 impose 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 advisers must avoid transactions and events that 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 advisers reviews the material requirements under Form 990-PF and its instructions, and better prepares you for future compliance.



  1. Overview of Form 990-PF
    1. Key elements of Parts I through XV
  2. Critical compliance challenges faced with Form 990-PF
    1. Calculation of net investment income
    2. Calculation of qualifying distributions
    3. Calculation of minimum distribution requirement
    4. Disclosing program activities (direct charitable activities, program related investments and grants)
  3. Tax planning opportunities
    1. 1% vs. 2%—tips to achieve
    2. Excess grant carryovers
  4. Best practices to avoid Chapter 42 penalty taxes
    1. Self-dealing
    2. Undistributed income
    3. Excess business holdings
    4. Jeopardizing investments
    5. 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 greatest potential to trip you up?


Amanda M. Adams, CPA
Amanda M. Adams, CPA

Managing Director
Cherry Bekaert

Ms. Adams has substantial experience serving a broad range of nonprofit clients including social service agencies,...  |  Read More

Brian Yacker
Brian Yacker

Managing Partner
YH Advisors

Mr. Yacker has more than 20 years of tax, legal and accounting advisory work with exempt organizations. In that time,...  |  Read More

Jeffrey D. Haskell
Jeffrey D. Haskell

Chief Legal Officer
Foundation Source

Mr. Haskell works with and provides guidance to a team of attorneys, accountants and support professionals who provide...  |  Read More

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