• videocam Live Webinar with Live Q&A
  • calendar_month December 17, 2026 @ 1:00 PM ET/10:00 AM PT
  • signal_cellular_alt Intermediate
  • card_travel Accounting
  • schedule 110 minutes

Avoiding Form 990-PF Errors: Identifying Self-Dealing, Monitoring Minimum Distribution Requirements, Excise Taxes

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Discount expires 12/3/26

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About the Course

Introduction

This course will assist practitioners and foundation managers with tricky reporting issues encountered when preparing Form 990-PF, Return of Private Foundation. Completing Form 990-PF is complicated and not necessarily intuitive. The panel will discuss best reporting practices to avoid red flags. The speakers will also address what does and does not need to be disclosed, as well as steps a foundation can take to strengthen overall compliance.

Description

Private foundations are organized for charitable purposes and required to make their annual 990-PF available for public inspection. These entities are vulnerable to at least five different excise taxes ranging from one percent to 200%. Private foundations may compensate disqualified persons as long as the compensation is reasonable and necessary.

Private foundations are charged with doing good and must meet specific minimum distribution requirements. Often, more or less than the calculated minimum distribution is paid out—both carry reporting conundrums. If the foundation is not generous enough in a given year, it is subject to an excise tax; if it is overly generous, it has an excess grant carryover to distribute in the future. Neglecting to include relative expenses as qualifying distributions is cited as a typical preparation error by foundation experts.

Along with concerns about what the foundation should report, advisers must determine what not to report. The IRS List, Common Errors Made by Exempt Organizations, advises "Do not include unnecessary personal identifying information."

Listen as our panel provides line-by-line advice on reporting complicated private foundation transactions, points out how and when to avoid excise taxes, and explains steps that will facilitate the preparation of a foundation's Form 990-PF.

Presented By

Thomas F. Blaney
Partner
PKF O'Connor Davies, LLP

Mr. Blaney is the Leader of the Private Foundations Practice. He has spent approximately 30 years specializing in the accounting and tax aspects of exempt organizations. A member of the Firm’s Executive Committee, Mr. Blaney is a recognized thought leader and frequent speaker, author and contributor to events and articles related to private foundations and not-for-profit topics. His work has appeared in The Wall Street Journal, Barron’s and other leading business publications. Mr. Blaney is a Certified Fraud Examiner, licensed CPA in the states of Florida, New York and Pennsylvania, and was also appointed to the Panel on the Nonprofit Sector’s “990 PF Reform Advisory Committee.” He was the recipient of the 2015 “Ahead of the Curve” award presented to the CPA who stays ahead of new legislation and trends on behalf of his clients. Mr. Blaney is currently Treasurer of the Breezy Point Disaster Relief Fund, Treasurer of the McCaddin-McQuirk Foundation, Treasurer of Exponent Philanthropy (formerly Association of Small Foundations), and is on the Audit and Investment Committees of the Hudson Valley Chapter of the Make-a-Wish Foundation.

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Christopher D. Petermann
Partner
PKF O'Connor Davies, LLP

Mr. Petermann serves as the Executive Leader of the M&A practice for the Firm’s benefit. He also serves as a Senior Advisor to PKF O’Connor Davies’ Managing Partner of Client Services. Mr. Petermann co-founded the Firm’s industry leading Private Foundation Practice. He has over 30 years of experience serving a multitude of exempt organizations and is a frequent speaker on a variety of exempt organization topics. Mr. Petermann earned his Bachelor of Science degree in accounting from Bucknell University. He is a Certified Public Accountant licensed in New Jersey and is a member of the American Institute of Certified Public Accountants (AICPA), the New York State Society of Certified Public Accountants (NYCPA), the New Jersey Society of Certified Public Accountants (NJCPA) and the Non-Profit Committee of the NJCPA.

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Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

Date + Time

  • event

    Thursday, December 17, 2026

  • schedule

    1:00 PM ET/10:00 AM PT

I. Common private foundation reporting errors

II. Avoiding and minimizing excise taxes

III. Disclosing reportable transactions

IV. Avoiding overdisclosure

V. Recommendations to improve the preparation and presentation of a 990-PF

The panel will review these and other important issues:

  • Reporting, minimizing, and avoiding private foundation excise taxes
  • Properly making required disclosures
  • Avoiding common reporting errors
  • Identifying disclosures that are not required

Learning Objectives

After completing this course, you will be able to:

  • Recognize prohibited transactions
  • Ascertain when taking steps to ensure the one percent net investment tax is warranted
  • Determine what a private foundation does and does not have to disclose
  • Identify common 990-PF reporting errors
  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite:

    Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of pass-through taxation, including taxation of partnerships, S corporations and sole proprietorships, qualified business income, net operating losses and loss limitations; familiarity with net operating loss carry-backs, carry-forwards and carried interests.

BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .