The Tax Law of Private Foundations
2021 Cumulative Supplement
5. Edition November 2021
224 Pages, Softcover
Wiley & Sons Ltd
ISBN:
978-1-119-80433-8
John Wiley & Sons
The Tax Law of Private Foundations, 2021 Cumulative Supplement, 5th Edition
Preface
Book Citations
1 Introduction to Private Foundations
§ 1.1 Private Foundations: Unique Organizations
§ 1.2 Definition of Private Foundation
§ 1.4 Private Foundation Law Primer
§ 1.5 Foundations in Overall Exempt Organizations Context
§ 1.6 Definition of Charity
§ 1.7 Operating for Charitable Purposes
§ 1.9 Private Foundation Sanctions
§ 1.10 Statistical Profile
§ 1.11 Private Foundations and Law 50 Years Later
2 Starting, Funding, and Governing a Private Foundation
§ 2.1 Choice of Organizational Form
§ 2.3 Estate Planning Principles
§ 2.4 Foundations and Planned Giving
§ 2.5 Acquiring Recognition of Tax-Exempt Status
§ 2.6 Special Requirements for Charitable Organizations
§ 2.7 When to Report Back to the IRS
3 Types of Private Foundations
§ 3.1 Private Operating Foundations
§ 3.3 Conduit Foundations
§ 3.8 Split-Interest Trusts
§ 3.9 Foreign Private Foundations
4 Disqualified Persons
§ 4.1 Substantial Contributors
§ 4.2 Foundation Managers
§ 4.3 Certain 20 Percent Owners
§ 4.4 Family Members
§ 4.5 Corporations or Partnerships
§ 4.6 Trusts or Estates
5 Self-Dealing
§ 5.1 Private Inurement Doctrine
§ 5.2 Private Benefit Doctrine
§ 5.3 Definition of Self-Dealing
§ 5.3A Excess Compensation Tax
§ 5.4 Sale, Exchange, Lease, or Furnishing of Property
§ 5.5 Loans and Other Extensions of Credit
§ 5.6 Payment of Compensation
§ 5.8 Uses of Income or Assets by Disqualified Persons
§ 5.11 Indirect Self-Dealing
§ 5.12 Property Held by Fiduciaries
§ 5.14 Additional Exceptions
§ 5.15 Issues Once Self-Dealing Occurs
6 Mandatory Distributions
§ 6.1 Distribution Requirements--in General
§ 6.2 Assets Used to Calculate Minimum Investment Return
§ 6.3 Determining Fair Market Value
§ 6.5 Qualifying Distributions
7 Excess Business Holdings
§ 7.1 General Rules
§ 7.2 Permitted and Excess Holdings
§ 7.3 Functionally Related Businesses
§ 7.7 Excise Taxes on Excess Holdings
8 Jeopardizing Investments
§ 8.2 Prudent Investments
§ 8.3 Program-Related Investments
9 Taxable Expenditures
§ 9.1 Legislative Activities
§ 9.2 Political Campaign Activities
§ 9.3 Grants to Individuals
§ 9.4 Grants to Public Charities
§ 9.5A Funding of Employee Hardship Programs
§ 9.6 Grants to Foreign Organizations
§ 9.8 Internet and Private Foundations
§ 9.9 Spending for Noncharitable Purposes
§ 9.10A Distributions to Group Exemption Organizations
§ 9.11 Excise Tax for Taxable Expenditures
10 Tax on Investment Income
§ 10.1 Rate of Tax
§ 10.3 Formula for Taxable Income
§ 10.5 Foreign Foundations
11 Unrelated Business Activity
§ 11.1 General Rules
§ 11.2 Exceptions
§ 11.3 Rules Specifically Applicable to Private Foundations
§ 11.4 Unrelated Debt-Financed Income Rules
§ 11.5 Calculating and Reporting the Tax
12 Tax Compliance and Administrative Issues
13 Termination of Foundation Status
§ 13.1 Voluntary Termination
§ 13.3 Transfer of Assets to a Public Charity
§ 13.4 Operation as a Public Charity
§ 13.6 Termination Tax
14 Charitable Giving Rules
§ 14.1 Concept of Gift
§ 14.2 Basic Rules
§ 14.4 Deductibility of Gifts to Foundations
§ 14.5 Qualified Appreciated Stock Rule
§ 14.8 Planned Giving Revisited
§ 14.9 Administrative Considerations
15 Private Foundations and Public Charities
§ 15.2 Evolution of Law of Private Foundations
§ 15.3 Organizations with Inherently Public Attributes
§ 15.4 Publicly Supported Organizations--Donative Entities
§ 15.5 Service Provider Organizations
§ 15.7 Supporting Organizations
§ 15.8 Change of Public Charity Category
§ 15.9 Noncharitable Supported Organizations
16 Donor-Advised Funds
§ 16.1 Basic Definitions
§ 16.3 Types of Donor Funds
§ 16.7 Public Charity Status of Funds
§ 16.9 Statutory Criteria
§ 16.12 Tax Regulations
§ 16.13 DAF Statistical Portrait
§ 16.14 Criticisms and Commentary
17 Corporate Foundations
§ 17.2 Reasons for Establishment of a Corporate Foundation
§ 17.3 Private Inurement Doctrine
§ 17.3A Private Benefit Doctrine
§ 17.5 Self-Dealing Rules
§ 17.6 Other Private Foundations Rules
§ 17.7 Tax on Excess Compensation: Potentially Applicable Exceptions Illustrated
Table of Cases
Table of IRS Revenue Rulings and Revenue Procedures
Table of IRS Private Determinations Cited in Text
Table of IRS Private Letter Rulings, Technical Advice Memoranda, and General Counsel Memoranda
About the Author
About the Online Resources
Cumulative Index
Book Citations
1 Introduction to Private Foundations
§ 1.1 Private Foundations: Unique Organizations
§ 1.2 Definition of Private Foundation
§ 1.4 Private Foundation Law Primer
§ 1.5 Foundations in Overall Exempt Organizations Context
§ 1.6 Definition of Charity
§ 1.7 Operating for Charitable Purposes
§ 1.9 Private Foundation Sanctions
§ 1.10 Statistical Profile
§ 1.11 Private Foundations and Law 50 Years Later
2 Starting, Funding, and Governing a Private Foundation
§ 2.1 Choice of Organizational Form
§ 2.3 Estate Planning Principles
§ 2.4 Foundations and Planned Giving
§ 2.5 Acquiring Recognition of Tax-Exempt Status
§ 2.6 Special Requirements for Charitable Organizations
§ 2.7 When to Report Back to the IRS
3 Types of Private Foundations
§ 3.1 Private Operating Foundations
§ 3.3 Conduit Foundations
§ 3.8 Split-Interest Trusts
§ 3.9 Foreign Private Foundations
4 Disqualified Persons
§ 4.1 Substantial Contributors
§ 4.2 Foundation Managers
§ 4.3 Certain 20 Percent Owners
§ 4.4 Family Members
§ 4.5 Corporations or Partnerships
§ 4.6 Trusts or Estates
5 Self-Dealing
§ 5.1 Private Inurement Doctrine
§ 5.2 Private Benefit Doctrine
§ 5.3 Definition of Self-Dealing
§ 5.3A Excess Compensation Tax
§ 5.4 Sale, Exchange, Lease, or Furnishing of Property
§ 5.5 Loans and Other Extensions of Credit
§ 5.6 Payment of Compensation
§ 5.8 Uses of Income or Assets by Disqualified Persons
§ 5.11 Indirect Self-Dealing
§ 5.12 Property Held by Fiduciaries
§ 5.14 Additional Exceptions
§ 5.15 Issues Once Self-Dealing Occurs
6 Mandatory Distributions
§ 6.1 Distribution Requirements--in General
§ 6.2 Assets Used to Calculate Minimum Investment Return
§ 6.3 Determining Fair Market Value
§ 6.5 Qualifying Distributions
7 Excess Business Holdings
§ 7.1 General Rules
§ 7.2 Permitted and Excess Holdings
§ 7.3 Functionally Related Businesses
§ 7.7 Excise Taxes on Excess Holdings
8 Jeopardizing Investments
§ 8.2 Prudent Investments
§ 8.3 Program-Related Investments
9 Taxable Expenditures
§ 9.1 Legislative Activities
§ 9.2 Political Campaign Activities
§ 9.3 Grants to Individuals
§ 9.4 Grants to Public Charities
§ 9.5A Funding of Employee Hardship Programs
§ 9.6 Grants to Foreign Organizations
§ 9.8 Internet and Private Foundations
§ 9.9 Spending for Noncharitable Purposes
§ 9.10A Distributions to Group Exemption Organizations
§ 9.11 Excise Tax for Taxable Expenditures
10 Tax on Investment Income
§ 10.1 Rate of Tax
§ 10.3 Formula for Taxable Income
§ 10.5 Foreign Foundations
11 Unrelated Business Activity
§ 11.1 General Rules
§ 11.2 Exceptions
§ 11.3 Rules Specifically Applicable to Private Foundations
§ 11.4 Unrelated Debt-Financed Income Rules
§ 11.5 Calculating and Reporting the Tax
12 Tax Compliance and Administrative Issues
13 Termination of Foundation Status
§ 13.1 Voluntary Termination
§ 13.3 Transfer of Assets to a Public Charity
§ 13.4 Operation as a Public Charity
§ 13.6 Termination Tax
14 Charitable Giving Rules
§ 14.1 Concept of Gift
§ 14.2 Basic Rules
§ 14.4 Deductibility of Gifts to Foundations
§ 14.5 Qualified Appreciated Stock Rule
§ 14.8 Planned Giving Revisited
§ 14.9 Administrative Considerations
15 Private Foundations and Public Charities
§ 15.2 Evolution of Law of Private Foundations
§ 15.3 Organizations with Inherently Public Attributes
§ 15.4 Publicly Supported Organizations--Donative Entities
§ 15.5 Service Provider Organizations
§ 15.7 Supporting Organizations
§ 15.8 Change of Public Charity Category
§ 15.9 Noncharitable Supported Organizations
16 Donor-Advised Funds
§ 16.1 Basic Definitions
§ 16.3 Types of Donor Funds
§ 16.7 Public Charity Status of Funds
§ 16.9 Statutory Criteria
§ 16.12 Tax Regulations
§ 16.13 DAF Statistical Portrait
§ 16.14 Criticisms and Commentary
17 Corporate Foundations
§ 17.2 Reasons for Establishment of a Corporate Foundation
§ 17.3 Private Inurement Doctrine
§ 17.3A Private Benefit Doctrine
§ 17.5 Self-Dealing Rules
§ 17.6 Other Private Foundations Rules
§ 17.7 Tax on Excess Compensation: Potentially Applicable Exceptions Illustrated
Table of Cases
Table of IRS Revenue Rulings and Revenue Procedures
Table of IRS Private Determinations Cited in Text
Table of IRS Private Letter Rulings, Technical Advice Memoranda, and General Counsel Memoranda
About the Author
About the Online Resources
Cumulative Index
