Welcome to EO Radio Show – Your Nonprofit Legal Resource. Today, I'm joined by David Sacarelos, a principal at Baker Tilly. We do a deep dive into the penalties under the Internal Revenue Code sections that apply to insider transactions involving private foundations. Using a recently issued IRS Chief Counsel memorandum, we look at the circumstances of loans by a private foundation that led to significant penalties for indirect self-dealing and jeopardizing investments.

Show Notes: 

Chief Counsel Memo 202504014

IRS Form 4720 

EO Radio Show #117: REFRESH Nonprofit Basics: Insider Transactions and Nonprofits

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DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.