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This course reviews the steps necessary to create and maintain the tax exempt status of Not for Profit (NFP) organizations that will exist as Private Foundations.
Private Foundations exist under Section 501(c)(3) of the Internal Revenue Code (IRC), but are not publicly supported entities. This makes them subject to filing requirements that are unique when compared to other not-for-profits.
The course reviews the laws covering the filing requirements for a Private Foundation including the Form 990-PF informational tax forms. There are also sections on self-dealing, limits on holdings, excise taxes, and required distributions of income earned by the Private Foundation.
Learning Objectives
- Recognize the differences between private foundations and other types of not-for-profit (NFP) organizations in existence under Internal Revenue Code (IRC) rules
- Identify the different types of private foundations that can be created
- Identify the situations that can cause a private foundation to have to pay excise taxes
Last updated/reviewed: November 14, 2019
2 Reviews (9 ratings)Reviews
Anonymous
()
Nice intro course on the considerations and pitfalls around private foundations.
Anonymous
(Income Tax Senior)
this was a good course on Not for Profits Tax Considerations.
Prerequisites
Course Complexity: Intermediate
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .