Private Foundations: From Start to Finish


CLE Credits earned: 2 GEN

This course is a basic introduction to organizing, qualifying, and operating private foundations. The seminar will review the essentials of forming private foundations, obtaining recognition of exempt status from the IRS, and avoiding self-dealing, minimum distribution, and governance pitfalls. The seminar also will discuss alternatives to private foundations, including supporting organizations and donor-advised funds. The course is designed for attorneys and others advising existing foundations or assisting clients who wish to create a charitable institution with some basic understanding of nonprofit corporations and tax law gain exposure understand the rules and procedures for private foundations.

Key topics to be discussed:

•   Overview of private foundations (types, funding options, and comparisons with public charities)
•   Incorporating and obtaining IRS recognition of exempt status
•   Operational issues

Date / Time: May 23, 2018

•   2:00 pm – 4:00 pm Eastern
•   1:00 pm – 3:00 pm Central
•   12:00 pm – 2:00 pm Mountain
•   11:00 am – 1:00 pm Pacific

Choose a format:

•   Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•   On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date and are view-able for up to one year.


Sam Coppersmith, Esq. 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; served as a Foreign Service Officer with the U.S. Department of State; and is a member and the immediate past chair of the Board of Trustees of Devereux Advanced Behavioral Health, one of the nation’s largest nonprofit behavioral health providers. He is admitted in Arizona and California, and is a graduate of Harvard College and Yale Law School.

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Accreditation on Formats: Live Video Broadcasts, “Live” Re-Broadcasts and On-Demand CLEs

Live Video Broadcasts
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“Live” Re-Broadcasts
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Many states allow for credit to be granted on a 1:1 reciprocal basis for courses approved in another mandatory CLE jurisdiction state. This is known as a reciprocity provision and includes the following states: AK, AR, CO, CT, FL, GA, ME, MO, MT, ND, NH, NJ, NY, PR, SD and WV. myLawCLE does not seek direct accreditation of live webinars or teleconferences in these states.

myLawCLE Credit Guarantee
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Section I. Private Foundation Basics

Section II. Forming a Private Foundation: Articles, Bylaws, Mission, and Policies

Section III. IRS Application Process

Section IV. Operating a Private Foundation

Section V. Rules and Pitfalls: Avoiding Excise Taxes and Compliance Issues