Becky Farr Seidel of the Leaffer Law Group wrote a great piece recently for Bloomberg BNA’s Estates, Gifts and Trusts Journal addressing issues in terminating private foundations. Here are some salient points, and you can read the entire article here. Unlike other 501(c)(3) entities, private foundations are subject to additional stringent regulations under Chapter 42 of the Code. For that...read more
New guidance for private foundations from the IRS addresses treatment of foreign grantees. The groups may wish to treat grants to foreign grantees as qualifying distributions that satisfy the minimum distribution requirements rather than as expenditures requiring expenditure responsibility. If a private foundation makes a “good faith determination” that a foreign grantee qualifies as a...read more
The Nashville Sports Authority is putting together a bid for a WNBA expansion team.
"Tennessee loves winners. If you can provide a team that wins, bring great talent here, it's a great place,"
says Carolyn Peck former Vanderbilt basketball star and WNBA Head Coach and GM. https://t.co/CmXwIz4DqH