Sessions For All PFS Days

7:00AM-8:00AM

21

Thursday
8:10AM-9:00AM

PFS1. Private Foundations: Then and Now

Instructor: Jody Blazek, Jane Searing
Knowledge Level: Overview
Field of Study: Taxes
CPE Credits: 1.0

Private foundations were the creation of legislation enacted in 1969. This session focuses on the history and how current proposed legislation continues to have an impact on modern-day foundation's.

Learning Objectives:

  • Recall the key foundation provisions of Chapter 42.
  • Discuss impact of the TCJ Act on private foundations and their donors

21

Thursday
9:00AM-9:50AM

PFS2. An Insiders View of Treasury from the Outside

Knowledge Level: Update
Field of Study: Taxes
CPE Credits: 1.0

Ruth's previous position with Treasury writing guidance for private foundations, including views on donor advised funds, program related investments, mission related investments, and grant making activities, gives her practice beyond Treasury a unique perspective. Focus will include past/current/future possible Treasury guidance and legislation action.

Learning Objectives:

  • Recognize Treasury's role in providing taxpayers guidance in implementing federal tax laws
  • Identify areas of emphasis in providing guidance and what gets the most attention

9:50AM-10:10AM

21

Thursday
10:10AM-11:25AM

PFS3. Grantee Assessment: Spotting the BIG Issues

Instructor: Jody Blazek, Ken Jones, Deby MacLeod
Knowledge Level: Overview
Field of Study: Accounting, Taxes
CPE Credits: 1.5

Our panel of an auditor, tax expert and foundation CFO will provide a unique and well rounded picture of grantee financial assessment challenges. How to add a financial analysis tool to the grantee review process. How to use tools to efficiently distill information for rapid decision making and not get buried in the details. Learn how changes in GAAP rules will impact grantee assessments. Focus will be given to how to interpret the financial information and the Form 990, including how to consider current ratios, administration cost ratios, character of investments, and finally how to interpret the fund balances to assure available assets accomplish programs a private foundation may fund.

Learning Objectives:

  • Gain practical ideas for reasonable assessment of potential grantees
  • Identify insights and tips related to grantee assessment tools and templates

21

Thursday
11:25AM-12:15PM

PFS4. When Spending and Investment Policies Intersect (in a good way)

Instructor: Jennifer Gilardi, Elizabeth Goldsberry, Kathryn Okimoto
Knowledge Level: Overview
Field of Study: Specialized Knowledge
CPE Credits: 1.0

The session is a practical demonstration of taking spending and earnings projections and using modeling techniques to make decisions. How will changes in the market impact the foundation's payout? How will increases in grant making impact investments in infrastructure and administrative spending? Payout modeling, can inform and illustrate the relationships between alternative decisions.

Learning Objectives:

  • Recall the relationships between different investment and payout decisions
  • Lean how one foundation uses payout modeling to inform their decision making

12:15PM-1:15PM

21

Thursday
1:15PM-2:05PM

PFS5. IRS Exam Readiness

Instructor: Jennifer Gilardi, Amy Robinson
Knowledge Level: Overview
Field of Study: Taxes
CPE Credits: 1.0

Our speakers have experienced first-hand a private foundation IRS audit. This session goes through lessons learned on how to manage the exam process, how to deal with findings and other hot button issues that may occur.

Learning Objectives:

  • Recall what to expect if the foundation is under exam
  • Learn how to negotiate with the IRS on adjustments

21

Thursday
2:05PM-2:55PM

PFS6. Embracing Intangible Asset Ownership Issues and Navigating Innovation

Knowledge Level: Overview
Field of Study: Specialized Knowledge
CPE Credits: 1.0

This session will cover the different types of intellectual property and how a private foundation should consider and protect such property, whether the intellectual property is created internally within the foundation or through grantmaking activities. Learning Objectives:

  • Identify the different types of intellectual property and how to protect each type
  • Recognize key differences between intellectual property that is developed internally vs. intellectual property developed through grantmaking activities
  • Recall key intellectual property considerations in grantmaking activities

2:55PM-3:15PM

21

Thursday
3:15PM-4:30PM

PFS7. Impact Investing: Understanding the Spectrum and Gaining Additional Insights

Instructor: Christopher Knapp, Ruth Madrigal, Amy Robinson
Knowledge Level: Update
Field of Study: Specialized Knowledge
CPE Credits: 1.5

We have again gathered a panel of experts to provide insights on the latest developments. The spectrum of impact investing tools used by private foundations from grants to maximizing return on traditional investments, and everything in between. They will provide examples of interesting investments which qualified as Program Related Investments as well as those that did not. They will share lessons learned, risk factors, dos and don'ts.

Learning Objectives:

  • Gain an understanding of what works well when investing for impact, including exit strategies and what makes a good agreement
  • Understanding the spectrum of impact investing and when you are taking the investment as a qualifying distribution

21

Thursday
4:30PM-5:20PM

PFS8. Self-Dealing: The Danger Zone for Foundations and Their Insiders

Instructor: Jane Searing
Knowledge Level: Update
Field of Study: Taxes
CPE Credits: 1.0

Self-dealing may be the least understood and most commonly triggered Chapter 42 penalty. It is what can go wrong when everyone is trying to do the right thing. This session will cover recent rulings, updates, and best practices in policies and procedures for preventing self-dealing.

Learning Objectives:

  • Understand the basics of self-dealing
  • Practical preventative controls for avoiding self-dealing

7:00AM-8:00AM

8:00AM-8:10AM

22

Friday
8:10AM-9:00AM

PFS9. Alternative Investments: Providing a Path Through the Complexity

Instructor: Jennifer Becker Harris, Deby MacLeod
Knowledge Level: Overview
Field of Study: Taxes
CPE Credits: 1.0

When private foundations purchase alternative investments there can be compliance impacts for both GAAP and tax purposes. This session will focus on what private foundations need to know before they enter an alternative investment, including valuation considerations for the Form 990-PF and financial reporting, federal and state unrelated business income and excess business holdings.

Learning Objectives:

  • Select practical tools for evaluating alternative investments for tax and audit purposes
  • Learn what is needs to be tracked for compliance reporting purposes

22

Friday
9:00AM-10:15AM

PFS10. Changes in Private Foundation Structure: Do NOT Do This Without a Net!

Instructor: Jennifer Becker Harris, Tomer Inbar, Morey Ward
Knowledge Level: Overview
Field of Study: Taxes
CPE Credits: 1.5

Private foundations are NOT like public charities in one major way. Private foundations are subject to the IRC §507 termination tax. Never heard of it? Come to this session! A private foundation that liquidates, merges, or otherwise reorganizes itself with another public or private charitable entity is not treated as a newly created organization. This session will explore the benefits and consequences of the rule permiting or disallowing carryover of both favorable and unfavorable tax attributes. A termination caused by willful and flagrant repeated violations of the private foundation's sanctions results in a penalty of 100% or more of prior tax benefits.

Learning Objectives:

  • Recognize when §507 would apply if a foundation has a termination, reorganization or significant disposition of assets
  • Recall how to avoid potentially expensive errors

10:15AM-10:35AM

22

Friday
10:35AM-11:50AM

PFS11. Getting Engaged in Advocacy

Knowledge Level: Overview
Field of Study: Taxes
CPE Credits: 1.5

Join Beth Kingsley for a discussion about how far a private foundation can go with advocacy without it becoming lobbying. What is included in grassroots activities. Knowing when it is the grantee’s activity vs. Foundation's. How Foundations are using a 501(c)(4) organization and how much restrictive language a Foundation really needs to have in a grant agreement to avoid impermissible lobbying.

Learning Objectives:

  • Learn where the bright lines and grey lines are in advocacy
  • Recognize appropriate risks you should be taking to make your voice heard and achieve your mission

12:00AM