This manual, from Morgan Stanley, highlights some of the things private foundations must do, must not do, and may do. It describes how trustees can use Form 990-PF to examine the inner workings of a private foundation. In fact, Form 990-PF is a useful “check-up” mechanism for evaluating the overall “health” of a private foundation. This manual identifies sections of Form 990-PF that reveal possible improprieties and suggests “best practices” to avoid violating the private foundation rules.