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Not For Profit/Exempt Organizations Blog

Category Archives: Private Foundations

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IRS Encourages Private Foundations to Consider Charitable Purposes in Investing Its Assets

Posted in Private Foundations

As we previously reported, the IRS has updated its guidance with helpful examples concerning program-related investments for private foundations.  In its recently issued Notice 2015-62, the IRS provides further assurance that private foundations may take the accomplishment of charitable purposes into account in investing decisions, in addition to financial return. Among other restrictions, private foundations… Continue Reading

IRS and Treasury Release Annual Priority Guidance Plan

Posted in Healthcare Organizations, IRS Filings, Private Foundations

The IRS and Treasury Department have released their annual Priority Guidance Plan (the “Plan”) for the 2012-2013 fiscal year.  The 35-page Plan is available here and includes thirteen projects directly related to Exempt Organizations.  At least five other projects, such as final regulations under Section 170 regarding charitable contributions and guidance on Section 403(b) plans,… Continue Reading

Proposed Regulations Change Rules Governing Good Faith Determinations of a Foreign Organization’s Equivalence to a Public Charity

Posted in IRS Filings, Private Foundations

The IRS recently issued proposed regulations amending the rules applicable to a private foundation’s good faith determination that that a foreign grantee is the foreign equivalent of a public charity or private operating foundation, grants to which will be “qualifying distributions” and not “taxable expenditures.” Most significantly, the proposed regulations expand the class of practitioners… Continue Reading

Proposed Regulations provide helpful new examples of “program-related investments”

Posted in Private Foundations

As repeatedly promised in its work plan, the IRS recently issued Proposed Regulations containing several new examples of investments that qualify as a “program-related investment” (a “PRI”) for purposes of avoiding potential characterization as a “jeopardizing investment,” which could result in the imposition of excise taxes on a private foundation and its managers under Section… Continue Reading