Legal Series - Self-Dealing (Family Foundations & Family Offices)

This program is a part of a four-part Legal Programs Series from our 2016 PNY Core Curriculum:

• February 17 – Making Grants to Individuals
• March 24 – Best Practices in International Grantmaking
• April 13 – Self-Dealing (Family Foundations & Family Offices)
• June 8 – Fiscal Sponsorships - Best Practices and Common Pitfalls

The self-dealing, conflict of interest and related party transaction rules for private foundations are among the most complex and important considerations in foundation operations and governance.  Did you know that violations of the self-dealing tax rules may result in costly excise taxes and even loss of tax-exempt status?  Additionally, mishandled conflicts of interest or related party transactions raise fiduciary concerns that may lead to Attorney General scrutiny or worse.  Learn about these topics so that you can be better at spotting issues before they turn into legal problems.  

Explore

• Who is a "disqualified person," and who is a "related party"
• The identification of an "act of self-dealing" under Federal tax law or a "related party transaction" under New York State law
• Common "self-dealing" pitfalls and how to avoid them
• Conflicts of interest and how to address them

Presenters

• John Sare, Partner, Exempt Organizations Group, Patterson Belknap Webb & Tyler LLP

Designed for

All interested funders.  CLE Credit Available: 2.0 hours, Professional Practice.