Best Ideas from the Conference: Yours and Ours
Nov 16, 2021 4:40pm ‐ Nov 16, 2021 5:30pm
Identification: NTSP21205
Our esteemed panel will cover income tax, estate tax and financial planning strategies that they are discussing and implementing with their clients as another year end approaches and in light of our changing economic and tax landscape in a climactic year. Our audience will have ample time to pose their questions to our panel of experts regarding planning strategies for their clients.
- Update on current tax challenges
- Practical answers to interpreting difficult tax laws
Category: General Session Onsite and Online
Welcome Remarks & Update from the IRS
Nov 17, 2021 10:30am ‐ Nov 17, 2021 11:30am
Identification: PFS2101
Hear from Robert Malone, Director of Exempt Organizations and Government Entities (EO/GE) about the priorities and achievements for TE/GE, including the insight into current PF-related developments and responses for any legislative changes and PF-related activities.
- Gain insight into current PF-related developments that have occurred recently including priority guidance plan
- Understanding responses for any legislative changes
- Identifying current PF-related rulings and guidance projects
Category: Conference Keynote Onsite and Online
Transactions with disqualified persons in the family office setting
Nov 17, 2021 11:30am ‐ Nov 17, 2021 12:45pm
Identification: PFS2102
This session will focus on private foundations in the family office environment and how to protect the disqualified persons and managers from incurring excise tax penalties. We will discuss co-investments, current, and future gifts when debt is associated with the asset transfer, and planning for estate gifts. Current guidance on self-dealing and potential use of the "Newman's Own" exception to excess business holding prohibition. We will look at planning opportunities, available private letter rulings, the existing law that can be relied upon until the IRS issues further guidance and proposed legislation.
- Explore current guidance and rules for private foundations and transactions with disqualified persons
- Examine potential future legislation and impact on planning for private foundations
Category: General Session Onsite and Online
The future of work is a hybrid environment. Are you ready?
Nov 17, 2021 1:45pm ‐ Nov 17, 2021 3:00pm
Identification: PFS2103
While foundations are working remotely and in hybrid models, they are also thinking about the future. What will happen to our culture? How will practices change? Will our employees remain engaged and productive? Thankfully, there are many sectors that already operate in this space, including some of our foundation peers. Learn what can be applied to your foundation, how to identify and manage risks, and how to unlock new opportunities.
- Understand what has been successful and hybrid model challenges
- Identify solutions that align with your foundation’s plans and culture
Category: General Session Onsite and Online
Troublesome Taxable Expenditure (Section 4945) Issues
Nov 17, 2021 3:10pm ‐ Nov 17, 2021 4:00pm
Identification: PFS2104
Establish focused objectives to meet the challenges of grants to relieve pandemic, disaster, hunger, or other social needs include. Institute best practices that create a framework for improved decision-making. Understand different and complex rules that govern how private foundations, including corporation foundations, can make a grant to an individual, a charity, a non-exempt community group or a business to accomplish the charitable purpose. Design the grant application or proposal and review reports that contain data and information to document chosen grantee(s) comply with tax code and record-keeping requirements.
- Consider examples of activities a Private Foundation can conduct not necessarily implied by the tax code.
- Understand broad scope of permissible expenditures not necessarily implied by strict reading of the tax code.
- Learn the permissible breadth of the terms "Travel, Study, or Similar Purposes."
Category: General Session Onsite and Online
Evaluating Sustainability - Shaping Expectations in the Wake of a Pandemic
Nov 17, 2021 4:30pm ‐ Nov 17, 2021 5:20pm
Identification: PFS2105
While reviewing grantees' financials and operations in the coming months, when should you be more curious or cautious? Timing might be challenging to determine. The financial strains of expanding, tightening, or changing courses coupled with new regulations, reporting requirements, and government assistance may or may not be apparent in an interim report or annual financial statements. This session will be a refresher of evaluation protocols and added considerations during these unprecedented times.
- Discuss how the CARES Act and other government assistance impacts sustainability analysis
- Identify yellow and red flags when evaluating grantees
- Describe how funders are incorporating non-financial metrics such as diversity and inclusion, environmental and social governance practices, and more
Category: General Session Onsite and Online
Results of Performing a Cybersecurity Assessment on an Organization
Nov 17, 2021 5:30pm ‐ Nov 17, 2021 6:20pm
Identification: PFS2106
The Kresge Foundation partnered with TrilogySecurity, Inc. to perform a cybersecurity assessment that would simulate a real cyber-attack and observe how the foundation would respond if a threat actor was able to breach the foundation's network. The Managing Director of IT for Kresge and the President of TrilogySecurity will discuss the outcomes of that assessment. Wendye Mingo will share how an organization should prepare for this type of exercise, what happened when the test breach was executed, how both staff and the IT team responded, and lessons learned. Michael Davenport will continue by discussing how his organization conducted the test, what his team's findings were and conclude with some best practices that the audience will be able to share with their organizations.
- Inform the audience about lessons learned during the cybersecurity attack simulation
- Inform the audience about how to better secure their organizations from cybersecurity threats
- Inform the audience of various cyber attack tactics targeting private foundations
Category: General Session Onsite and Online
ROUNDTABLE DISCUSSION: Complex Tax Reporting Issues for Private Foundations
Nov 18, 2021 8:30am ‐ Nov 18, 2021 9:45am
Identification: PFS2107
Join us for our early riser session on challenging private foundation reporting issues. Our panel will share the more unusual reporting scenarios they encountered this year and share tools for gathering data to enhance compliance. Please bring your ideas to share and discuss with our panel. This session will be recorded and repeated in the afternoon for our west coast attendees.
- Understand some of the reporting challenges in preparing the Forms 990-PF and 990-T for private foundations.
- Appreciate the public disclosure elements of the Form 990-PF
- Review the intersection of the section 512(a)(6) unrelated business income silo rules and the 4943 excess business holding rules and reporting
Category: General Session Onsite and Online
What's Next for Philanthropy
Nov 18, 2021 10:00am ‐ Nov 18, 2021 10:50am
Identification: PFS2108
The Monitor Institute by Deloitte's What's Next for Philanthropy is a once-in-a-decade report that explores how the world around philanthropy is changing. Driven by a range of powerful social, economic, and political trends and forces, Gabriel Kasper, the report's lead researcher, will discuss with Jane Searing, how certain "Big Shifts" around the field of philanthropy have proved unavoidable and shown up, often uninvited, to influence the work of the sector.
Hear from one of the sector's leading researchers what the sector can expect in the future and how philanthropy may adjust and plan to meet future challenges.
Hear from one of the sector's leading researchers what the sector can expect in the future and how philanthropy may adjust and plan to meet future challenges.
- Explore the "Big Shifts" reshaping the world and impacting philanthropy
- Learn more about the "Edges" with the potential to change philanthropy
Category: Conference Keynote Onsite and Online
Panel: How Private Foundations adapt, grow, and thrive
Nov 18, 2021 11:20am ‐ Nov 18, 2021 12:35pm
Identification: PFS2109
Private foundations strive for unique programmatic outcomes and their journey is supported by department leaders that move strategically and form deep partnerships. During this session, leaders will present opportunities and considerations centered upon a foundation’s size and life stage. Hear what has been transformational for foundations as well as lessons learned.
- Understanding the differences and value drivers of small, medium, and large private foundations
- Learn about the tipping points that drive meaningful change and how to evaluate solutions
Category: General Session Onsite and Online