Private foundations hold more than $475 billion in assets and are a major force in US philanthropy. Despite this, for many years they received surprisingly little attention from Congress, regulators and the press. Times have changed, however, and for the past several years private foundations have been the focus of in-depth and sometimes unfavorable scrutiny. Recent tax legislation increases the excise tax penalties for private foundations and imposes new rules on certain grant making activities. This year’s primer program will provide in-depth coverage of tax issues relating to private foundations.
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