IRS Releases Long-Awaited Program-Related Investment Guidance

May 2012

On April 18, 2012, the Internal Revenue Service (IRS) released new guidance on the program-related investments (PRIs) of private foundations. Although the proposed regulations – which provide nine new examples of investments that qualify as PRIs – do not break substantial new ground from a practice perspective, they do provide clear regulatory approval of certain principles and structures that have become well-established among PRI makers and practitioners in this area.

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