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

This session will review the assets as defined by IRC section 4942(e)(2) and the regulations thereunder as assets other than cash and marketable securities, commonly referred to as "alternative investments". The discussion will include the concerns related to these investments for private foundations including: - unrelated business (UBI) income and the related siloing rules, as well as the use of blocker corps - excess business holding prohibitions - self-dealing related to co-investment and compensation of disqualified persons - valuation and the minimum investment return calculation - additional costs of reporting due to international and state filings generated by these investments -challenges with respect to the reporting of such investments in audited U.S. GAAP financial statements

Learning Objectives:

• Determine tax laws on Alternative Investments as applicable to PF
• Analyze provisions of chapter 42 which need to be examined when investing in Alternative Investments
• Calculate reporting requirements and related challenges of Alternative Investments in financail statements

This session will provide a historical look at partnerships investments, beginning with Plumsted Theater and moving through recent court cases and the current IRS workplan to gain a perspective on where we have been, where we are today, where there is clear guidance, where additional guidance is needed, and where private foundation are needing to document their filing positions.

Learning Objectives:

• Recognize partnership law as applicable to private foundations
• Recall how chapter 42 provisions impact partnership investments
• Identify how partnership and private foundation law has evolved over time

This session will cover using Foundation capital to increase investment in underrepresented communities. We will examine: - current program related investments and what investments can qualify as a PRI. - when can an investment in a partnership qualify as a program related investment. - how Foundations can bring capital into a community by putting funds on deposit in rural credit unions or providing loan guarantees. This session will also take a deep dive in the current CECL GAAP rules and guidance.

Learning Objectives:

• Recall grantmaking practicalities and practices
• Recognize the differences between legal requirements and foundation policies

This session will provide an update on remote working including cyber security risk management and updates on tax reporting. Including: - Cyber security continues to be a threat and a weakness for all organizations. How are foundations addressing and protecting themselves with more remote workers. - Tax and registration issues with remote employees and the impact on foundations - Insurance experts' coverage and tax reporting requirements - What is a reimbursable employee expense and what is a taxable commuting reimbursement for an employee choosing a remote living situation?

Learning Objectives:

• Identify legal requirements and risks of remote workers
• Recognize tax consequences of a geographically diverse workforce

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

One of the driving forces behind separating private foundations from public charities was Congress's desire to prohibit financial transactions between private foundations and disqualified persons. There are exceptions to the prohibitions whether it be stock redemptions or payment of reasonable compensation for professional services. This session will discuss the exceptions as well as the importance of documenting the due diligence steps taken by those charged with governance and their reliance on independent opinions of reasonableness for any fair value assessments. This session will also discuss the impact of Announcement 2021-18 which revoked Announcement 2001-33 related to compensation reporting by private foundations.

Learning Objectives:

• Distinguish who is a disqualified person
• Indicate what is an allowable transaction
• Recognize what constitutes self-dealing, and how to properly correct and report

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.

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

This session will explore: - direct charitable expenditures by all types of private foundations. - how operating foundations and non-operating foundations each report direct charitable activities on their financial statements and Form 990-PF. - what are the U.S. GAAP (functional expense reporting) and tax (ANI and POF Tests) required for each type of organization and why they matter - Solicitation of public funds for direct charitable activities

Learning Objectives:

• Identify constitutes a direct charitable expenditure for operating and non-operating foundations
• Distinguish how operating and non-operating foundations report direct charitable expenditures on the Form 990-PF

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

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