Which of the following transactions are generally considered acts of self-dealing between a private foundation and a disqualified person?
- Sales, exchanges, or leasing of property
- Providing goods, services or facilities
- Lending money or other extensions of credit
- Paying compensation or reimbursing expenses to a disqualified person
- None of the above
If you aren’t sure, we want to invite you to our “Lunch with Legal Counsel”series with Suzanne Friday, Senior Counsel and Vice-President of Legal Affairs. Suzanne will do a deep dive into Section 4941 of the Internal Revenue Code and discuss self-dealing as it applies to private foundations.
Participants will learn:
- How to identify acts and potential acts of self-dealing.
- How to distinguish between self-dealing and conflicts of interest.
- The penalties that can be assessed for acts of self-dealing.
- Permissible exceptions to the self-dealing rules.
Director, Private Philanthropy
Senior Counsel and Vice President of Legal Affairs