A tax how-to guide for private foundations


Despite enjoying tax-exempt status, private foundations are not immune to taxation. Yes, as long as a private foundation does not engage in activities unrelated to its tax-exempt mission, it will not be subject to any income taxes; however, private foundations, unlike their public charity counterparts, are potentially subject to an assortment of excise taxes. They are subject to the complex tax rules of Chapter 42 of the Internal Revenue Code; navigating those rules is crucial to effective tax planning.


In A tax how-to guide for private foundations, Grant Thornton tax professionals address the issues confronting private foundations on a daily basis, from excess business holdings to self-dealing, from expenditure responsibility compliance to unrelated business income tax planning. This information serves all types of private foundations, from small family foundations to some of the largest private grant-making foundations in the world.


Download our guide for insight about how to file, understand deductions, identify unrelated business income, recognize an operating foundation and more.



Dennis J. Morrone

Dennis Morrone is the National Managing Partner of Grant Thornton's Not-for-Profit & Higher Education Practices.

Iselin, New Jersey

  • Not-for-profit & higher education
Service Experience
  • Advisory
  • Operations and performance
  • Audit & Assurance
  • Finance Transformation
  • Employee Benefit Plan Audits
  • Lease accounting
  • Transaction advisory
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