26. Private Foundation Case Studies: 10 Myths of Private Foundations

Field of Study: 
CPE Credit: 
Knowledge Level: 
Advanced Preparation: 
Basic knowledge of not-for-profit operations, auditing, accounting and/or compliance requirements. General experience working in, or auditing, not-for-profits, including those NFPs audited under GAGAS.

Tuesday, June 19, 2018

Private foundations are not a new giving vehicle. However, they remain a powerful point of leverage for philanthropists. For the charitably inclined there is not much you cannot do with a private foundation so long as you follow the rules. The key is you must understand the rules. This session will debunk 10 common myths of private foundations. We will highlight activities you CAN do with a private foundation that most people think you CANNOT. We will also highlight a few danger areas where common sense would tell you the activity should be fine to engage in with a private foundation but is actually a violation of a Chapter 42 tax law.

Learning Objectives:

  • Learn the points of leverage a private foundation brings for philanthropists to achieve charitable goals.
  • Gain an awareness of the Chapter 42 activities which will trigger excise tax penalties on private foundations, managers and disqualified persons.


CPA, M.S. (Taxation)
Shareholder, Clark Nuber PS
CPA, M.S. Taxation
Shareholder, Clark Nuber PS