Form 990-PF: Meeting IRS Demands for Fiscal, Grant, and Other Data From Private Foundations
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE video webinar with Q&A
This course 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.
- Form 990-PF
- Critical compliance challenges faced with Form 990-PF
- Calculation of net investment income and the new 1.39% revenue neutral tax
- Calculation of qualifying distributions
- Calculation of minimum distribution requirement
- Disclosing program activities (direct charitable activities, program-related investments, and grants)
- Operating foundations
- Best practices to avoid Chapter 42 penalty taxes
- 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:
- What are distributions considered qualified distributions for the five percent test?
- When is a private foundation required to remit estimated tax payments?
- How is undistributed income tracked, and when should it be distributed?
- How is Section 4940 net investment income tax calculated and reported for a private foundation?
Thomas F. (Tom) Blaney, CPA, CFE
PKF O'Connor Davies
Mr. Blaney is a Partner of the Firm and Director of the Private Foundation Practice. He has spent more than 25 years... | Read More
Mr. Blaney is a Partner of the Firm and Director of the Private Foundation Practice. He has spent more than 25 years specializing in the accounting and tax aspects of exempt organizations.Close
Jake Cook, CPA
Nonprofit Tax Managing Director
Mr. Cook specializes in his firm’s tax-exempt practice and is part of his firm’s nonprofit industry team.... | Read More
Mr. Cook specializes in his firm’s tax-exempt practice and is part of his firm’s nonprofit industry team. His clients are primarily nonprofit organizations including charities, foundations, trade associations, social welfare organizations and hospitals and healthcare organizations. He presents at national trainings on nonprofit topics.Close
Brian Yacker, JD, CPA
Partner, Nonprofit Services
Baker Tilly US
Mr. Yacker has more than 30 years of tax, legal and accounting advisory work with exempt organizations. In that time,... | Read More
Mr. Yacker has more than 30 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.Close
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CPE credit is not available on downloads.