95624 2

Author: Celia DavisLisa McCreedyClark Nuber

CPE Credit:  2 hours for CPAs

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits

Private foundations face significant compliance challenges that can have serious consequences if not properly managed. While still a type of charitable organization under IRC section 501(c)(3), private foundations have an additional set of compliance rules including an entirely different annual tax return filing. This course offers a practical overview of the compliance issues, planning opportunities to mitigate risks going forward, and insights on the annual Form 990-PF tax return for foundations.


Publication Date: January 2024

Designed For
CPAs, CFOs, auditors, bookkeepers, staff accountants and others working with not-for-profit entities.

Topics Covered

  • Overview of Private Foundations
  • Types of Foundations
  • Code Sections
  • Considerations for Foundations
  • Form 990-PF Overview
  • Common Mistakes and Interdependencies
  • Payout Requirements and Strategies
  • IRC 4940 - 4945


Learning Objectives

  • Identify and apply key tax challenges impacting private foundations
  • Recognize the parts of Form 990-PF and how they apply
  • Recognize how to differentiate the questions and disclosures required on the Form 990-PF
  • Recognize how to properly calculate the annual distribution requirement and identify planning strategies for the future
  • Identify the method of accounting used to determine qualifying distributions



Instructional Method

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

Additional Course Details

  • Filed of Study: Taxation
  • Publisher: Wolters Kluwer
  • Course Level: Basic
  • Pre-Requisites: None
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