Olympic National Park Queets Rainforest Photo by Gerald B. Treacy, Jr.

Private Foundations

Treacy Law Firm, PLLC advises individuals, families, and businesses with regard to all aspects of the creation and maintenance of private foundations and private operating foundations. The firm’s services to its clients with regard to private foundations (PFs) and private operating foundations (POFs) include the following:

  • Goals and charitable mission
  • Structure of governing board
  • Trust vs. nonprofit corporation format
  • Charitable tax deductions planning
  • Funding the PF or POF
  • Governing instruments and bylaws
  • Whistleblower policy statements
  • Retention and destruction of documents policy statements
  • Conflict of interest policy statements
  • Annual state and local filings
  • Annual IRS filings
  • Avoiding excise penalty taxes for
    • Self-dealing
    • Failure to make distributions
    • Excess business holdings
    • Jeopardy investments
    • Taxable expenditures
  • Conversion to public charity status
  • Conversion to supporting organization status
  • Avoiding termination tax
  • Winding down and termination
  • Other PF and POF services.

Mr. Treacy has over 30 years’ experience in creating and advising private foundations and private operating foundations. He has lectured and written extensively in this area of law. Among his many publications on private foundations and private operating foundations are: “Rulings Go Beyond ‘Plain Vanilla’ Foundations,” Taxation of Exempts (September 2007), and “A Taxonomy of Tax-Exempt Organizations,” Planned Giving Today (June 1997)