No topic within private foundation rules raises as many questions and concerns as self-dealing. The self-dealing rules prohibit a range of transactions between private foundations and their insiders (called disqualified persons) to ensure that foundation assets are used for charitable purposes rather than private benefit. Common Acts of Self-Dealing The self-dealing rules are broad and... Read More
Self-dealing is prohibited; conflicts of interest can be managed. But the intricacies of the two can be confusing. In this webinar, led by attorney Darren B. Moore of Bourland Wall & Wenzel, find clear, easy-to-follow steps to help you recognize each, avoid self-dealing, and manage conflicts of interest. Learn the laws, discuss common situations and... Read More
How do you avoid self-dealing? The IRS developed self-dealing rules to ensure that foundations use their assets solely for charitable purposes. However, foundation managers not familiar with the law can find themselves violating self-dealing rules without even knowing it, or having any self-serving intent. And, ignorance of the rules or acting without malice will not excuse... Read More
Private foundations, or PFs, occasionally consider making investments in vehicles in which one or more of their disqualified persons, or DPs (e.g., officers, directors, substantial contributors) also have invested or also are considering an investment. This article focuses on issues raised for investments in vehicles that are owned and managed by persons unrelated to the... Read More
With self-dealing rules that are sometimes confusing, can a small foundation determine whether a potential transaction constitutes self-dealing? It can! Apply these three straightforward questions to any situation. Does the transaction involve a disqualified person? The Internal Revenue Service defines a disqualified person as one of the following: Officers, directors, trustees, and others with similar... Read More
The general rule is this: Certain insiders known as disqualified persons are prohibited from engaging in a specific list of transactions with a private foundation, unless exists a stated exception exists. If you are a board member, officer, or substantial contributor to a private foundation, you, your family members, and entities controlled by you must... Read More