The private foundation is a great tool for a family that wants to control its philanthropic activities. But, they can be tedious and time-consuming to operate and can present special challenges as the initial funders age and family dynamics shift. This presentation will explore the tax and non-tax considerations, as well as the opportunities and roadblocks that the foundation might face during formation, addition of younger family members to the governing body, divorce and other changes that can result in a decision to shut down, divide the foundation into tow or more foundations, distribute assets to a donor advised fund or become a public charity.
Understand the tax and non-tax considerations of a private foundation
Explore the opportunities and roadblocks of private foundations