In The Lightmaker's Manifesto, author and coach Karen Walrond helps us name the skills, values, and actions that bring us joy; identify the causes that spark our empathy and concern; and then put it all together to change the world. By unearthing our passions and gifts, we learn how to joyfully advocate for justice, peace, and liberation. We learn how to become makers of light.

Learn more about Karen's book, The Lightmaker's Manifesto, here. 

Learning Objectives:

• Learn the concepts outlined in The Lightmaker’s Manifesto
• Help those working in or supporting advocacy organizations like private foundations find joy and light in their work
• Understand what one can do to avoid burnout and instead find job in challenging work and times

This session will focus on the unrelated business income (UBI) rules as they apply to private foundations. When can UBI run afoul of the IRC section 4943 prohibition on excess business holdings. What should private foundations consider when entering into direct charitable activities or pass through investments related to UBI.

Learning Objectives:

• Understand the rules of unrelated business income and how UBI is reported on the 990-T whether the activity is direct or indirect through an investment.
• Appreciate how the UBI rules intersect with the excess business holding rules of irks section 4943 and can be a trap for the unwary private foundation.
• Brief update on new reporting requirements related to Schedules K2 & K3

Join us for round 1 of our Virtual Roundtables. (direct links to each table below) 

Topics include:

• Inflation Click here to join the table
• Program-Related Investments Click here to join the table
• Tax Reporting Click here to join the table
• Self-Dealing Click here to join the table
• Nonstandard Grants (e.g. foreign, for-profit, PRIs).  Click here to join the table

Although Foundation activities primarily focus on grantmaking to charitable entities, there are multiple options to consider as we seek to expand our philanthropic toolbox. This session covers grantmaking to for-profit entities, foreign organizations, individuals; and the ramifications and pitfalls that a Foundation may encounter when venturing beyond the Public Charity (PC).

Learning Objectives:

• Grants to foreign entities - what do foundations need to know and do to facilitate grants to foreign charitable organizations.
• Returned grants - how to record and report on the 990PF. Coordinating with the 5-year carryforward rule.
• Add Learning Objective to reflect Grant vs. Contract

Take a chance to connect with our exhibitors. Click on the Exhibitors tab to learn more about the companies while earning points for the PFS Challenge!

During this session a foundation will present a comprehesive case study that includes examples of recent types of program-related investments they have funded. The foundation will not only discuss the objectives and outcomes of the investments, but the due diligence process and challenges encountered along the way.

Learning Objectives:

• Identify different types of program-related investments covered by the case study
• Discuss important considerations including due diligence and any hurdles encountered during the structuring the transaction

During this session we will dive further into the reporting requirements for the program-related investments discussed in the case study from both the financial statement and tax perspective. We will discuss additional legal considerations based on the nature of the program-related investment. We will also highlight other possible structures for program-related investments and the reporting implications for those structures.

Learning Objectives:

• Identify the reporting mechanics for both U.S. GAAP financial statements and IRS requirements with respect to program-related investments.
• Discuss best practices with respect to anticipating questions that your auditors or tax preparers may have with respect to program-related investments.
• Discuss legal considerations related to different types of structures and what type of due diligence is necessary to ensure a smooth transaction.

This session will cover the various aspects of a private foundation's life cycle after formation including mergers, split ups, dissolutions and conversion to public charity status.

Learning Objectives:

• Appreciation of when and how the IRC 507 termination tax may apply to a private foundation.
• Understanding of when and how a private foundation's tax attributes may follow the assets upon dissolution or distribution of significant assets.
• Discussion of how and when a private foundation might qualify for conversion to public charity status and the process for making the change.

In this session, we'll review the latest developments in GAAP, and what's on the horizon, affecting your organizations and grantees/ potential grantees.  We'll discuss key implementation issues on recent standards, new pronouncements (ASUs), changes to the FASB's technical and research agendas in response to the FASB's 2021 Agenda Consultation, and other noteworthy current projects.

Learning Objectives:

• Identify recent standards that will impact NFPs, including ones on leases, credit losses, and gifts-in-kind, and key implementation issues being addressed by the FASB and others..
• Describe recent changes to the FASB's technical and research agendas in response to the 2021 Agenda Consultation..
• Describe, at a general level, the scope and objectives of key current FASB projects on crypto assets and software costs.

Join us for round 2, the last chance, of Virtual Roundtables. (direct links to each table below) 

Topics include:

• Inflation Click here to join the table
• Program-Related Investments Click here to join the table
• Tax Reporting Click here to join the table
• Self-Dealing Click here to join the table
• Nonstandard Grants (e.g. foreign, for-profit, PRIs) Click here to join the table

Founders of private foundations often have many charitable interests. This session will explore how these charitable interests can be satisfied by utilizing other philanthropic vehicles. Issues of control, relatedness and funding will be covered as we explore this expanded world of philanthropic vehicles.

Learning Objectives:

• Appreciating the rules of how organizations can be commonly controlled or related to a private foundation and why it matters.
• Understanding the various vehicles donors use in conjunction with private foundations to accomplish charitable purposes.
• Any applicable legislative updates which may be applicable to the session (i.e. ACE Act.)

Take a chance to connect with our exhibitors. Click on the Exhibitors tab to learn more about the companies while earning points for the PFS Challenge!

Private foundations are allowed to engage in advocacy. This session will highlight some examples of how foundations are exerting their influence to make positive changes as well as cover the brightline rules for what is and is not allowed.

Learning Objectives:

• Brightline rules for prohibited lobbying and political activities by a private foundation
• Examples of allowable and effective advocacy by private foundations
• Best practices for advocacy grantmaking