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Private Foundation Law Made Easy Hardcover – October 27, 2008
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From the Inside Flap
Private Foundation Law Made Easy
Increased IRS attention may be causing private foundation executives and their counselors to seek guidance on issues such as who may sit on foundations' boards, the way their foundations are set up, how they invest their endowment, and how funds are distributed to qualified grantees. Filled with straightforward, clear guidance on the ins and outs of private foundation law, Private Foundation Law Made Easy demystifies this topic for board members and helps them to successfully navigate the basics.
Author Bruce R. Hopkins—a leading authority on the laws regulating private foundations—offers essential, practical legal information in easy-to-understand English. His practical tips and "red flags" provide useful advice and present critical information in an efficient and comprehensible fashion.
Now your foundation can be fully informed about the basic legal requirements affecting private foundations and avoid the perils lurking in the myriad tax-law traps. Private Foundation Law Made Easy clearly shows you how, with information on reaping the charitable, tax, and other economic advantages of your private foundation. You will find everything you need to know about:
Private foundations and public charities—what's the difference?
Tax law rules in general
Mandatory payout rules
Prohibited expenditures rules
Charitable giving rules
And much more!
Mandatory reading for anyone contemplating the creation of a foundation or managing or advising an existing foundation, Private Foundation Law Made Easy illuminates the rules surrounding private foundations, and authoritatively and thoroughly guides you through every aspect of its laws.
From the Back Cover
The ins and outs ofprivate foundation law—made easy!
Written by renowned author Bruce R. Hopkins, Private Foundation Law Made Easy is a must-read guide for accountants, consultants, investors—anyone needing to know the essentials of the laws involving private foundations.
This authoritative guide presents in-depth discussions on the differences between a private foundation and a public charity, as well as the special foundation rules concerning tax law rules, mandatory payouts, prohibited expenditures, self-dealing, and excess business holdings. It also covers crucial prudent investment standards, unrelated business rules, and charitable giving rules.
Designed to get you quickly up to speed, you will discover:
How to invest your foundation's endowment
Invaluable information on assets involved in the calculation of themandatory payout requirement
Advice on how to file annual returns with the IRS
The alternatives to private foundations
How to creatively use supporting organizations
Packed with practical tips and invaluable advice, Private Foundation Law Made Easy sheds light on complex legal issues concerning private foundations with plain-language explanations of laws and regulations for non-legal professionals.