PFS2002
Non-taxable Expenditures: All the Great Things Foundations Can Do
Date
November 18, 2020
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This year, the National Tax Conference the Sophisticated Tax for Your Wealthy Clients Conference will be co-located. Both events will take place at the same time, in the same venue. Attendees of the National Tax Conference will retain the great content and networking opportunities that you value…
IRC section 4945 includes a list of prohibited expenditures. It also provides instructions for how private foundations may make certain charitable expenditures which are not to public charities. As long as private foundations follow the proscribed guidelines, the charitable distributions are not treated as taxable distributions. Foundations use these provisions to make international grants, payments to individuals, stimulate invention through prizes and economic and disaster recovery through program related investments.
Learning Objectives
- Determine how foundations can avoid making taxable expenditures
- Understand the exceptions which allow for greater funding options for foundations beyond public charities if a foundation is willing to undertake additional inquiry and oversight of expended funds
Speakers
Nicole Bencik, CPA, MST
Partner - National Not For Profit Tax Services Leader, Crowe
Managing Director, Deloitte Tax LLP, Global Center for Excellence in Philanthropy
General
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