Private foundations operate under a complex regulatory framework. Amanda Adams, Not-for-Profit Tax Practice Leader for Citrin Cooperman Advisors, and Daniel Romano, Principal and National Tax Leader for Grant Thornton Advisors’ Not-for-Profit and Higher Education Practices, identified the most common violations that they have encountered with their clients and provided examples of real-world scenarios with options for how to address them during a session at the AICPA & CIMA Not-For-Profit Industry Conference in National Harbor, MD.
Self-dealing transactions represent one of