Private Foundations and Form 990-PF Basics Webcast

Course Details


Tuesday, September 24, 2019

5:30am – 9:00am
(Registration: 5:00am)

Field of Study


Course Number


CPE Credit

4.0 hours CPE credit

Level of Knowledge



CalCPA Education Foundation




Review private foundation excise tax rules and their implications for the completion of Form 990-PF. Discuss the excise taxes in conjunction with applicable parts of Form 990-PF and applicable questions.

Learn the differences between non-operating (grant making foundations) and operating foundations; different private foundation excise taxes; and the significance of columns (a)-(d) in Part I of the form as well as expense allocation in Part I which includes allocation of indirect costs between net investment income and charitable expenses.

Receive an overview of the expenditure responsibility requirements or equivalency determination requirements, where applicable, for foreign grants and grants to domestic private foundations, the income distribution calculation and the unrelated business income tax (UBIT), including a discussion of state filings. Review issues related to alternative investments and UBIT, including reporting for foreign investments. Also, learn about the implications of The Tax Cuts and Jobs Act (TCJA), as well as, guidance issued to date, on private foundations.

Formerly titled: Form 990-PF: Private Foundation Basics


  • Private foundation excise taxes
  • Fair market value of the foundation's assets
  • Income distribution requirements
  • Self-dealing and transactions with disqualified persons
  • Foreign grant making
  • Unrelated business income tax


  • Recognize transactions where excise tax rules are applicable to private foundations.
  • Identify differences between grant making and private operating foundations.
  • Recall how organizations qualify for the one-percent rate of the Section 4940 excise tax on investment income.
  • Determine the average fair market value calculation for cash and securities.
  • Recognize additional reporting requirements for foreign grant expenses and grants to other U.S. private foundations.
  • Identify fundamentals of the unrelated business income tax (UBIT) and understand the implications of TCJA provisions effecting offsetting of income against losses from alternative investments and changes to net operating loss reporting.

Designed For

CPAs, attorneys and consultants.

Registration for this course has passed.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

Non-Member Fee

Applicable if you are not a HSCPA member.

Your Price $188.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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