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

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?

Learning Objectives

After completing this course, you will be able to:

  • Recognize the material aspects and disclosure requirements of Form 990-PF
  • Discern the rules governing excess business holdings, mandatory minimum distributions, and jeopardizing investments
  • Identify transactions that can violate prohibitions against self-dealing
  • Determine how to best advise private foundations on tax consequences of expenditures and transactions within the foundation


Amanda M. Adams, CPA, Managing Director
Cherry Bekaert, Atlanta

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.

Brian Yacker, Managing Partner
YH Advisors | The Exempt Org Experts, Orange County, CA

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.

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.

EA Credit

Enrolled Agent credit processing is available for an additional fee per person.

EA Processing $5.00


Recorded Event

Includes full event recording plus handouts.

Note: Self-study CPE and EA credits are not offered on recorded events.

Recorded Webinar Download $147.00

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Recorded Audio Download (MP3) $147.00

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Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

Program Materials

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Program Materials

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Strafford is an IRS approved continuing education provider and this course is approved for 2 enrolled agent (EA) credit hours.

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Accounting Non-Profit Services Advisory Board

Amanda Adams

Tax Partner

Blazek & Vetterling

Bill Allen


Making Auditors Proficient

Steven J. Luber

Senior Manager


Michele A. W. McKinnon



Celia Roady

Tax Partner

Morgan Lewis

Daniel Romano

Partner-In-Charge, National Not-For-Profit Tax Practice

Grant Thornton

Chris Stanz

Principal, Non-Profit and Government Practice


Alan Strand


Strand and Associates

Brian Yacker

Managing Partner

YH Advisors | The Exempt Org Experts

or call 1-800-926-7926

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