Video DVD + Course Book

Private Foundations From Start to Finish

Video DVD + Course Book

Copyright Date:

January, 2018

Product ID#:

78430DVDCDR

Video + Course Book

Credit Information

Choose State:



Continuing Legal Education

  • IL CLE - 6.00
From Event: Private Foundations From Start to Finish, held January 2018.

Program Description

Do you have solid knowledge of the transparency and accountability standards of private foundations? Do you know what should (and should not) be in their articles of incorporation, bylaws, policies and tax forms? This focused guide provides a practical look into the legal and tax aspects of private foundations. From creation to restrictions to operational issues and filings, gain the instruction you need to counsel clients in this unique area of law. Order today!

Course Content

  1. Private Foundation Essentials
  2. Incorporating the Private Foundation
  3. Applying for Exemption: Nuts and Bolts
  4. Organizing and Governing a Private Foundation
  5. Applying Private Foundation Rules
  6. Filing Tax Returns (IRS Form 990-PF and IRS Form 990-T)
  7. Ethical Considerations for EO Practitioners

Continuing Education Credit

Continuing Legal Education

Credit Hrs State Credit Approval Expiration
CLE 6.00 AK * 01/15/2020
CLE 6.00 AZ * 01/15/2020
CLE 6.00 CA * 01/15/2020
CLE 7.00 CO * 01/15/2020
CLE 6.00 CT * 01/15/2020
CLE 7.00 FL * 07/15/2019
CLE 6.00 GA * 01/15/2019
CLE 6.00 HI * 01/15/2020
CLE 6.00 ID * 01/15/2020
CLE 6.00 IL * 01/14/2020
CLE 6.00 KS * 01/14/2019
CLE 6.00 ME * 01/15/2020
CLE 6.00 MN * 10/13/2019
CLE 6.00 MO 01/15/2020
CLE 6.00 MP * 01/15/2020
CLE 6.00 MT * 01/15/2020
CLE 6.00 NC * 12/31/2019
CLE 6.00 ND * 01/15/2020
CLE 6.00 NE * 12/13/2019
CLE 6.00 NH * 01/15/2021
CLE 7.20 NJ * 11/08/2018
CLE 6.00 NM * 01/15/2020
CLE 6.00 NV * 01/15/2021
CLE 7.00 NY * 01/15/2020
CLE 7.00 OK * 01/15/2019
CLE 6.00 OR * 01/15/2021
CLE 6.00 PA * 01/15/2020
CLE 6.00 TX * 12/31/2018
CLE 6.00 UT * 12/31/2018
CLE 6.00 VA * 10/31/2018
CLE 6.00 VT * 01/15/2020
CLE 6.00 WA * 01/15/2023
CLE 7.20 WV * 01/15/2020
CLE 6.00 WY * 01/15/2021

* denotes specialty credits

Agenda / Content Covered

All times are shown in Eastern time

  1. Private Foundation Essentials
    10:00 - 11:00, Samuel G. Coppersmith
    1. What is a Private Foundation?
    2. Different Types of Private Foundations
    3. Definitions and Key Terms
    4. Funding of a Private Foundation
    5. Giving Options
    6. Public Charities vs. Private Foundations
    7. Non-Operating Foundations vs. Operating Foundations
  2. Incorporating the Private Foundation
    11:15 - 12:15, Jennifer L. Urban
    1. Liability Associated With Unincorporated Organizations
    2. Articles of Incorporation - Key Provisions to Include
    3. Bylaws - Key Provisions to Include
    4. Mission Statement
    5. The Use of LLCs (and L3Cs) for Nonprofits
    6. Conflict of Interest Policy
    7. Funding Guidelines
    8. Applying for an EIN
  3. Applying for Exemption: Nuts and Bolts
    12:15 - 12:45, Jennifer L. Urban
    1. IRS Form 1023
    2. Timeline, Dates and Other Requirements
    3. What to Include?
    4. Determination Letter
  4. Organizing and Governing a Private Foundation
    1:15 - 2:15, Samuel G. Coppersmith
    1. The Foundation's Mission
    2. When the Private Foundation is a Trust
    3. Who to Include on the Foundation Board?
    4. Where Should the Funds be Invested?
    5. How and Where Should Funds be Given Away?
  5. Applying Private Foundation Rules
    2:15 - 3:15, Michelle Huhnke
    1. Mandatory Distributions
    2. Charitable Activities
    3. Tax Benefits
    4. Excise Tax
    5. Taxes on Self-Dealing
    6. Tax on Failure to Distribute
    7. Tax on Stock Holdings
    8. UBTI
    9. Taxes on Investments That Jeopardize Charitable Purposes
    10. Taxable Expenditures
    11. Public Inspection of Documents
  6. Filing Tax Returns (IRS Form 990-PF and IRS Form 990-T)
    3:30 - 4:00, Samuel G. Coppersmith
    1. IRS Form 990-PF and IRS Form 990-T
    2. Timeline, Dates and Other Requirements
    3. Contributions, Disbursements, Expenses, Sales of Assets, Capital Gains and Similar Items
  7. Ethical Considerations for EO Practitioners
    4:00 - 5:00, Michelle Huhnke
    1. Multiple Representation Issues: Who is the Client?
    2. Attorney-Client Confidentiality Within the Different Levels of an Organization
    3. Confidentiality vs. Disclosure to the IRS
    4. Self-Dealing Situations
    5. Excessive Compensation
    6. Direct Referrals From Board
    7. When the Attorney Must Resign

SAMUEL G. COPPERSMITH is a partner with the law firm of Coppersmith Brockelman PLC, in Phoenix, Arizona. His practice centers on business and real estate transactions, with an emphasis on guiding nonprofit organizations in strategic initiatives, operations, and public affairs. Mr. Coppersmith represented Arizona's 1st Congressional District in the U.S. House of Representatives during the 103rd Congress; served as a member and as chair of the City of Phoenix Board of Adjustment; and is currently chair of the Board of Trustees of the Devereux Foundation, one of the nation's largest behavioral health providers. He is a member of the State Bar of Arizona, State Bar of California, and the Maricopa County and American bar associations. Mr. Coppersmith is a graduate of Harvard College and Yale Law School.

MICHELLE HUHNKE is a partner with the Chicago law firm of Sugar Felsenthal Grais & Hammer, LLP, where she focuses her practice in the areas of estate planning, estate and trust administration, and charitable planning. Ms. Huhnke works with clients and their families to develop estate plans that address varied family circumstances and include efficient estate, gift, and generation-skipping tax planning. She also represents charities and their donors. Ms. Huhnke advises clients on the use of charitable trusts, private foundations, and donor advised funds to foster family philanthropy and maximize the income, estate, and gift tax benefits of charitable giving. She advises charitable foundations and public charities on governance and transactions. Other areas of Ms. Huhnke's practice include asset protection planning and business succession planning. She teaches trusts and estates law at the University of Chicago Law School. Ms. Huhnke is also a lecturer for the Investment Management Consultants Association for their program at the University of Chicago Booth School of Business and has lectured for the Illinois Institute of Continuing Legal Education. She earned her undergraduate degree, cum laude, from Barnard College and her Juris Doctorate degree, with honors, from the National Law Center at George Washington University. Ms. Huhnke is a member of the Illinois State Bar Association and the District of Columbia Bar.

JENNIFER L. URBAN is the founder of Legal for Good PLLC and devotes herself to representing charitable and nonprofit organizations throughout Minnesota and Ohio. Ms. Urban routinely assists charitable organizations and individual donors with a variety of matters, including: crisis management; fiscal sponsorship; nonprofit formation; 501(c) tax exemption; merger, consolidation, and dissolution; nonprofit consulting, training, and best practices; grant compliance and financial management; property tax exemption; sales tax exemption; nonprofit-related litigation; charitable solicitation and professional fundraising; government compliance and regulatory issues; and document review and creation. She is a graduate of the University of Wisconsin-Madison, as well as Ohio State University Moritz College of Law. After graduation, Ms. Urban served as a judicial law clerk to the Honorable Peggy L. Bryant, Tenth District Court of Appeals for the State of Ohio. Before transitioning to private practice, she served four years as an assistant attorney general at the Office of the Ohio Attorney General in the Charitable Law Division. She enjoys speaking at legal education seminars, directing the nonprofit law clinic at the University of St. Thomas School of Law, and being a member of numerous prominent local legal organizations.

Please refer to Continuing Education Credit FAQ for general information about seeking credit for your participation in one of our continuing education programs.

Additionally, our team of credit specialists are here to answer your specific credit-related questions weekdays 7am - 5pm Central:

Phone: 866-240-1890

Email: credit@nbi-sems.com

Accreditation Details:

Continuing Legal Education

AK CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
Alaska Bar members may claim credit for attending CLE programs that have been accredited by other mandatory CLE jurisdictions. This self study program may qualify for up to 6.0 hours of self-study credit, which includes 5.0 hours of VCLE self-study credit under the voluntary CLE Rule of the Alaska Bar Association and 1.0 hours of MECLE ethics self-study under the mandatory ethics continuing legal education CLE Rule.


AZ CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 6.0 hours toward your annual MCLE Interactive CLE requirement for the State of Arizona, including 1.0 hour of professional responsibility Interactive CLE credit.


CA CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
This activity has been approved for Minimum Continuing Legal Education credit by the State Bar of California and may qualify for up to 6.0 hours of self-study credit, of which 1.0 hour will apply to legal ethics self-study credit. NBI, Inc. certifies this activity conforms to the standards for approved education activities prescribed by the rules and regulations of the State Bar of California governing minimum continuing legal education. NBI, Inc. is a State Bar of California approved MCLE provider - #53.


CO CLE: 7.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.20
This program may qualify for up to 7.0 hours of self-study general Colorado Continuing Legal Education Credit, including 1.2 ethics credit.


CT CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. It is the opinion of NBI, Inc. that this activity qualifies for up to 6.0 self-study hours toward your annual CLE requirement in Connecticut, including 1.0 self-study hour(s) of ethics/professionalism.


FL CLE: 7.00 Credit Approval Exp
07/15/2019
Includes - Business Litigation: 7.00, Ethics: 1.00, Tax: 7.00
Approved by The Florida Bar, this program may qualify for up to 7.0 general hours of CLER self-study credit including 1.0 hour of self-study ethics credit. Certification: 7.0 hours - Business Litigation and 7.0 hours - Tax.


GA CLE: 6.00 Credit Approval Exp
01/15/2019
Includes - Ethics: 1.00
This program is approved by the Georgia Commission on Continuing Lawyer Competency. This program may qualify for up to 6.0 hours of distance learning continuing legal education credit with the Georgia Commission on Continuing Lawyer Competency, which includes 1.0 hour of distance learning ethical considerations.


HI CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
NBI, Inc. is an Accredited Provider with the Hawaii State Board of Continuing Legal Education. This alternative format activity has been approved for up to 6.0 hours of credit for the state of Hawaii, which includes 1.0 hour of ethics or professional responsibility education.


ID CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
This program may qualify for up to 6.0 hours of self-study continuing legal education credit in the state of Idaho, which may include 1.0 ethics credit. Application for self-study approval must be submitted to the Idaho State Bar.


IL CLE: 6.00 Credit Approval Exp
01/14/2020
Includes - Ethics: 1.00
This program has been approved by the Illinois MCLE Board for 6.0 hours of recorded technology CLE credit, which includes approval for 1.0 hour of legal ethics CLE credit by the Illinois Supreme Court Commission on Professionalism.


KS CLE: 6.00 Credit Approval Exp
01/14/2019
Includes - Ethics: 1.00
Approved by the Kansas Continuing Legal Education Commission for 6.0 hours of prerecorded format continuing legal education credit, which includes 1.0 hour of ethics and professionalism credit. No more than 6.0 hours of prerecorded format CLE may be earned in one compliance period.


ME CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course may receive up to 6.0 hours of self-study CLE credit including 1.0 ethics hours under M. Bar R. 12. No more than 5.5 hours of self-study CLE credit may be earned during a reporting period.


MN CLE: 6.00 Credit Approval Exp
10/13/2019
Includes - Ethics: 1.00
Approved for up to 6.0 hours of on-demand CLE credit, including 1.0 hour of ethics by the Minnesota Board of Continuing Legal Education. No more than 15.0 hours of on-demand CLE credit may be earned during a reporting period.


MO CLE: 6.00 Credit Approval Exp
01/15/2020
NBI, Inc. is an accredited sponsor with Missouri Minimum Continuing Legal Education. This program qualifies for up to 6.0 self-study CLE credit hours. No more than 6.0 hours of self-study CLE credit may be earned during a reporting period. Attorneys may not earn ethics credit with self-study.


MP CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
This course has been approved by the Commonwealth of the Northern Mariana Islands. Lawyers who complete this course shall receive 6.0 hours of self-study CLE credit including 1.0 ethics hours.


MT CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
This program may qualify for up to 6.0 hours of self-study CLE credit by the Montana Commission on Continuing Legal Education, including 1.0 hour of ethics. No more than 5.0 hours of self-study CLE credit may be earned during a reporting period.


NC CLE: 6.00 Credit Approval Exp
12/31/2019
Includes - Ethics: 1.00
NBI, Inc. is an accredited sponsor with the North Carolina State Board of Continuing Legal Education. Attendance of this program may qualify for up to 6.0 hours of online CLE credit, including 1.0 ethics. No more than 6.0 hours of online CLE credit may be earned during a reporting period.


ND CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
North Dakota attorneys completing this program may claim up to 6.0 North Dakota self-study CLE credit hours, including 1.0 hour of ethics credit, on the Report of Compliance. No more than 15.0 hours of self-study CLE credit may be earned during a reporting period.


NE CLE: 6.00 Credit Approval Exp
12/13/2019
Includes - Ethics: 1.00
NBI, Inc. is an accredited CLE sponsor in the state of Nebraska. This activity has been approved for up to 6.0 distance learning CLE credits, including 1.0 hour of professional responsibility credit. No more than 5.0 hours of distance learning CLE credit may be earned during a reporting period.


NH CLE: 6.00 Credit Approval Exp
01/15/2021
Includes - Ethics: 1.00
NHMCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. NBI, Inc. believes this course meets the requirements of NH Supreme Court Rule 53 toward the annual NHMCLE requirement.


NJ CLE: 7.20 Credit Approval Exp
11/08/2018
Includes - Ethics: 1.20
This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 7.2 hours of alternative format CLE credit. Of these, 1.2 qualify as hours of alternative learning format credit for ethics/professionalism. No more than 12.0 hours of alternative learning format CLE credit may be earned during a reporting period.


NM CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
This program has been approved by the New Mexico Minimum Continuing Legal Education Board. This program may qualify for up to 6.0 hour of self-study credit, including 1.0 hours of self-study ethics credit. No more than 4.0 hours of self-study CLE credit may be earned during a reporting period.


NV CLE: 6.00 Credit Approval Exp
01/15/2021
Includes - Ethics: 1.00
This course has been approved by the Nevada Board of Continuing Legal Education. This program may qualify for up to 6.0 hours of alternative format CLE credits by the Nevada Board of Continuing Legal Education, which includes 1.0 hour of alternative format ethical considerations.


NY CLE: 7.00 Credit Approval Exp
01/15/2020
Includes - Areas of Professional Practice: 6.00, Ethics: 1.00
This nontraditional format course has been approved in accordance with the requirements of the New York State Continuing Legal Education Board for up to 7.0 credit hours. 6.0 hours can be applied to the Areas of Professional Practice requirement and is approved for newly admitted and experienced attorneys. 1.0 hour can be applied toward the ethics and professionalism requirement and is approved for experienced attorneys.


OK CLE: 7.00 Credit Approval Exp
01/15/2019
Includes - Ethics: 1.00
This course has been approved by the Oklahoma Bar Association Mandatory Continuing Legal Education Commission. This program may qualify for up to 7.0 of Archived and/or Online OnDemand CLE credit hours, which includes 1.0 hour of legal ethics. No more than 6.0 hours of Archived and/or Online OnDemand CLE credit may be earned during a reporting period.


OR CLE: 6.00 Credit Approval Exp
01/15/2021
Includes - Ethics: 1.00
NBI, Inc. is an approved sponsor with the Oregon MCLE. This program may qualify for up to 5.0 hours of general self-study continuing legal education credit and 1.0 hour of ethical considerations credit.


PA CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
This program has been approved by the Pennsylvania Continuing Legal Education Board. This program may qualify for up to 6.0 hours of distance learning credit, including 5.0 hours of substantive law, practice and procedure CLE credit and 1.0 hour of ethics, professionalism or substance abuse distance learning CLE credit. No more than 6.0 hours of distance learning CLE credit may be earned during a reporting period.


TX CLE: 6.00 Credit Approval Exp
12/31/2018
Includes - Ethics: 1.00
This course is accredited for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 6.0 credit hours, of which 1.0 credit hour will apply to legal ethics/professional responsibility credit. Hours in attendance at National Business Institute CLE seminars may be applied to the minimum Judicial Education requirement.


UT CLE: 6.00 Credit Approval Exp
12/31/2018
Includes - Ethics: 1.00
National Business Institute is an approved "presumptive provider" with the Utah State Board of Continuing Legal Education. This program may qualify for up to 6.0 hours of self-study CLE credit for Utah attorneys, which includes 1.0 hour of ethical considerations.


VA CLE: 6.00 Credit Approval Exp
10/31/2018
Includes - Ethics: 1.00
This course has been approved by the Virginia Mandatory Continuing Legal Education Board for 6.0 hours of credit, which includes 1.0 hour of ethics. Beginning November 1, 2011, pre-recorded programs are limited to eight credit hours for annual MCLE compliance. A minimum of four credit hours from live interactive courses is required.


VT CLE: 6.00 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.00
This course has been approved by the Vermont Board of Mandatory Continuing Legal Education. This program may qualify for up to 6.0 hours of self-study credit, including 1.0 hour of self-study ethics credit. No more than 10.0 hours of self-study CLE credit may be earned during a reporting period. Attorneys may not earn professionalism credit with self-study.


WA CLE: 6.00 Credit Approval Exp
01/15/2023
Includes - Ethics: 1.00
This program may qualify for up to 6.0 hours of Washington continuing legal education (Self Study) A/V credit, which includes 5.0 hours of Law and Legal Procedure and 1.0 hour of ethics.


WV CLE: 7.20 Credit Approval Exp
01/15/2020
Includes - Ethics: 1.20
This program may qualify for up to 7.2 hours of self-study credit, which includes 1.2 hour of self-study ethics credit, under the West Virginia Rules for Mandatory Continuing Legal Education. No more than 12.0 hours of self-study CLE credit may be earned during a reporting period.


WY CLE: 6.00 Credit Approval Exp
01/15/2021
Includes - Ethics: 1.00
The Wyoming State Board of Continuing Legal Education has granted up to 6.0 hours of Continuing Legal Education Credit, including 1.0 hour of ethics. No more than 5.0 hours of self-study credit may be earned during one calendar year.


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Mail: NBI
P.O. Box 3067
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