With more than 50,000 private foundations in the United States and the increasing scrutiny of the IRS, this much-needed, annually updated manual provides you with a wide range of tax rules and regulations for these foundations. Coauthored by a lawyer and tax accountant, the revised and expanded Third Edition includes practical tax compliance suggestions and in-depth legal explanations. Capturing all-new developments in the private foundations arena, the new edition presents you with line-by-line instructions, sample-filled IRS forms, and complete citations.
Author Biography
BRUCE R. HOPKINS is a senior partner in the law firm of
Polsinelli Shalton Flanigan Suelthaus PC, practicing in the firm's
Kansas City, Missouri, and Washington, D.C., offices. He
specializes in the representation of private foundations and other
taxexempt organizations. His practice ranges over the entirety of
law matters involving exempt organizations, with emphasis on the
formation of nonprofit organizations, acquisition of recognition of
tax-exempt status for them, the private inurement and private
benefit doctrines, the intermediate sanctions rules, legislative
and political campaign activities issues, public charity and
private foundation rules, unrelated business planning, use of
exempt and for-profit subsidiaries, joint venture planning, tax
shelter involvement, review of annual information returns, Internet
communications developments, the law of charitable giving
(including planned giving), and fundraising law issues.
Mr. Hopkins served as Chair of the Committee on Exempt
Organizations, Tax Section, American Bar Association; Chair,
Section of Taxation, National Association of College and University
Attorneys; and President, Planned Giving Study Group of Greater
Washington, D.C.
Mr. Hopkins is the series editor of Wiley's Nonprofit Law, Finance,
and Management Series. In addition to co-author of Private
Foundations: Tax Law and Compliance,Third
Edition, he is the author of The Law of Tax-Exempt
Organizations, Ninth Edition;The Planning Guide for the Law
of Tax-Exempt Organizations: Strategies and Commentaries;IRS
Audits of Tax-Exempt Organizations: Policies, Practices, and
Procedures; The Tax Lawof Charitable
Giving, Third Edition; The Law of Fundraising, Third
Edition; The Tax Law ofAssociations; The Tax
Law of Unrelated Business for Nonprofit Organizations; The
Nonprofits'Guide to Internet Communications Law; The
Law of Intermediate Sanctions: A Guide
forNonprofits; Starting and Managing a
Nonprofit Organization: A Legal Guide, Fifth
Edition;Nonprofit Law Made Easy; Charitable Giving
Law Made Easy; Private Foundation Law
MadeEasy; 650 Essential Nonprofit Law
Questions Answered; The First Legal Answer Book
forFund-Raisers; The Second Legal Answer Book for
Fund-Raisers; The Legal Answer Book forNonprofit
Organizations; The Second Legal Answer Book for Nonprofit
Organizations; andThe Nonprofit Law Dictionary; and is
the co-author, with Jody Blazek, of The Legal AnswerBook
for Private Foundations; with Thomas K. Hyatt, of The Law of
Tax-ExemptHealthcare Organizations, Third Edition; with
David O. Middlebrook, of Nonprofit Lawfor Religious
Organizations: Essential Questions & Answers; and with
Douglas K. Anning, Virginia C. Gross, and Thomas J. Schenkelberg,
of The New Form 990: Law, Policyand Preparation. He
also writes Bruce R. Hopkins' Nonprofit Counsel, a monthly
newsletter, published by John Wiley & Sons.
Mr. Hopkins received the 2007 Outstanding Nonprofit Lawyer Award
(Vanguard Lifetime Achievement Award) from the American Bar
Association, Section of Business Law, Committee on Nonprofit
Corporations. He is listed in The Best Lawyers
inAmerica, Nonprofit Organizations/Charities Law,
2007-2008.
Mr. Hopkins earned his J.D. and L.L.M. degrees at the George
Washington University National Law Center and his B.A. at the
University of Michigan. He is a member of the bars of the District
of Columbia and the state of Missouri.
JODY BLAZEK is a partner in Blazek & Vetterling LLP,
a Houston CPA firm focusing on tax and financial planning for
exempt organizations and the individuals who create, fund, and work
with them. BV serves over 400 nonprofit organizations providing
financial reports and tax compliance and planning services.
Ms. Blazek's accounting career has concentrated on nonprofit
organizations for over 38 years. This focus began with KPMG (then
Peat Marwick) when she studied and interpreted the Tax Reform Act
of 1969 as it related to charitable organizations and the creation
of private foundations. From 1972 to 1981 she gained nonprofit
management experience as treasurer of the Menil Interests, where
she worked with John and Dominique de Menil to plan the Menil
Collection, The Rothko Chapel, and other projects of the Menil
Foundation. She reentered public practice in 1981 to found the firm
she now serves.
She is the author of six books in the Wiley Nonprofit Series:
Nonprofit FinancialPlanning Made Easy (2008);
IRS Form 1023 Preparation Guide (2005); IRS Form
990 TaxPreparation Guide for Nonprofits (2004);
Tax Planning and Compliance for Tax-Exempt
Organizations,Fourth Edition (2004); Private
Foundations: Tax Law and Compliance, ThirdEdition
(2008); and The Legal Answer Book for Private
Foundations (2002), the latter two volumes co-authored
with Bruce R. Hopkins. Ms. Blazek serves on the Panel of the
Nonprofit Sector, Transparency and Financial AccountabilityWork
Group.
Ms. Blazek is past Chair of the Tax-Exempt Organizations Resource
Panel and a member of Form 1023 and 999 Revision Task Forces for
the American Institute of Certified Public Accountants; she serves
on the national editorial board of Tax Analysts'The Exempt
Organization Tax Review and the AICPA's The Tax
Advisor; and is an advisor to the Volunteer Service Committee
of the Houston Chapter of Certified Public Accountants. She is a
founding director of Texas Accountants and Lawyers for the Arts and
a member of the board of the Anchorage Foundations, Houston Artists
Fund, and the River Pierce Foundation. Ms. Blazek is a frequent
speaker at nonprofit symposia, including AICPA Not-for-Profit
Industry Conference; University of Texas Law School Nonprofit
Organizations Institute; Texas, New York, Arizona, and Washington
State CPA Societies' Nonprofit Conferences; conference of Southwest
Foundations and Association of Small Foundations; and Resource
Center's Nonprofit Legal and Accounting Institute, among
others.
Jody Blazek received her BBA from University of Texas at Austin in
1964 and took selected taxation courses at South Texas School of
Law. She and her husband, David Crossley, nurture two sons, Austin
and Jay Blazek Crossley.