Packages Display Packages
This includes sessions from the conference:Â 2023 AICPA & CIMA Private Foundation Summit
Sessions Included:
Chair Welcome | Legislative and IRS Update (Jun 22, 2023 08:00 AM)
Individual Grants (Jun 22, 2023 02:20 PM)
Trust Based Philanthropy in Action - Removing Barriers but Remaining Compliant in Grantmaking (Jun 22, 2023 04:25 PM)
Morning Announcements and Update on Form 990-PF Reporting (Jun 23, 2023 08:00 AM)
New Reporting: Environmental, Social, and Governance (ESG) and Global Information Reporting (GIR) Standards (Jun 23, 2023 10:35 AM)
Models of Collaboration - Case studies and Examples of Effective Collaboration (Jun 23, 2023 11:30 AM)
Chair Welcome | Legislative and IRS Update
Jun 22, 2023 8:00am ‐ Jun 22, 2023 9:00am
Identification: PFS2301
This session will provide an overview of legislative and regulatory developments affecting private foundations.
Learning Objectives:- Recognize current legislative activity
- Determine IRS activity and updates
Speaker(s):
- Alexander L. Reid, J.D., LL.M. (Taxation), Partner, BakerHostetler LLP
- Jane M. Searing, CPA, Managing Director, Deloitte Tax LLP, Global Center for Excellence in Philanthropy
Individual Grants
Jun 22, 2023 2:20pm ‐ Jun 22, 2023 3:10pm
Identification: PFS2306
This session will include discussions about disaster relief, scholarships, prizes and other types of distributions. Which require advance approval, and which do not. Which are taxable to the recipient and which are not. What is the difference between qualified and non-qualified disasters and how can a foundation be used to respond to each kind. What are the self-dealing concerns with non-qualified disasters which must be dealt with. Explore alternative tools, beyond private foundations, to provide non-qualified disaster relief to individuals. What is the difference between qualified and non-qualified disasters and how can a foundation be used to respond to each kind.
Learning Objectives:- Recognize when additional steps are required by a PF to make grants to individuals
- Indicate what the various types of individual grants to individuals are and what the reporting requirements are for each type
Speaker(s):
- Jeffrey D. Haskell, J.D., LL.M. (Taxation), Chief Legal Officer, Foundation Source
Trust Based Philanthropy in Action - Removing Barriers but Remaining Compliant in Grantmaking
Jun 22, 2023 4:25pm ‐ Jun 22, 2023 5:40pm
Identification: PFS2308
This session will explore shifting from control at the private foundation level to listening and learning from grantees and proving more general operating support grants. We will discuss: - what is actually required to obtain before or after a grant is made for compliance and impact measurement. - how to be open up alternative ways of accepting grant submissions (allowing video submissions). - Some foundations that no longer require financial statement audits. What are the risks?
Learning Objectives:- Identify compliance challenges facing organizations when making grants and PRIs to organizations overseas and the impact of foreign currency fluctuations, and ways to mitigate the impact.
- Analyze the broad range of regulatory filings relating to foreign investments, the types of investments that present the greatest compliance challenges, and red flags to identify in fund documents and agreements.
Moderator(s):
- Amy B. Robinson, CPA, VP, CFO & CAO, Kresge Foundation
Speaker(s):
- Genise Singleton, Director of Grants Management, The Kresge Foundation
- Marisa Meltebeke, Partner, Davis Wright Tremaine
Morning Announcements and Update on Form 990-PF Reporting
Jun 23, 2023 8:00am ‐ Jun 23, 2023 8:55am
Identification: PFS2309
Form 990-PF contains many details to test the foundation’s ongoing qualification for exemption on its 13 pages. While the form has remained primarily unchanged for years, there have been changes to the instructions or for new tax law. In addition, the final regulations for the excise tax on excess tax-exempt organization compensation are effective starting in 2022. This session will be a refresher on the reporting obligations for private foundations, including state and international filing considerations.
Learning Objectives:- Determine updates on Form 990-PF reporting, including state and foreign reporting requirements
- Identify common errors and challenges in preparing the Form 990-PF
Speaker(s):
- Ms. Jody Blazek, CPA, Partner, Blazek & Vetterling
- Jennifer B. Harris, CPA, Tax Shareholder, Clark Nuber
- Jane M. Searing, CPA, Managing Director, Deloitte Tax LLP, Global Center for Excellence in Philanthropy
New Reporting: Environmental, Social, and Governance (ESG) and Global Information Reporting (GIR) Standards
Jun 23, 2023 10:35am ‐ Jun 23, 2023 11:25am
Identification: PFS2311
This session will discuss what impact ESG and GIR might have on private foundations and what you and your board should be thinking about today to prepare for tomorrow.
Learning Objectives:- Identify the new ESG and GRI reporting standards
- Appreciate how ESG and GRI reporting may impact PF investment decisions
Speaker(s):
- Jocelyne Miller, JD, Managing Director, EY
- Corinne Dougherty, CPA, Partner, KPMG
Models of Collaboration - Case studies and Examples of Effective Collaboration
Jun 23, 2023 11:30am ‐ Jun 23, 2023 12:45pm
Identification: PFS2312
Explore how private foundations and other funders collaborate on philanthropic projects. What are some of the tools, lessons learned, and reporting issues to be aware of if you are thinking of collaborating on a project. These may include: Out of corpus reporting; donor advised funds; accepting, acknowledging, and registering to solicit charitable contributions in local justifications; fundraising on behalf of grantees; expenditure responsibility oversight reporting as a grantee or grantor; fiscal sponsorship; and/or fiscal agency.
Learning Objectives:- Recognize the collaborative funding models utilized by private foundations
- Identify how private foundations collaborate and report out on collaborative philanthropic activities
Moderator(s):
- Amy B. Robinson, CPA, VP, CFO & CAO, Kresge Foundation
Speaker(s):
- Megan Bell, J.D., Partner, Morgan Lewis
- Nishka Chandrasoma, J.D., Vice President, Chief Legal Officer and Secretary, Ford Foundation