" ... discusses the definition and classification of private foundations and public charities. Under [section] 509, enacted by The Tax Reform Act of 1969, certain [section] 501(c)(3) organizations (charitable, educational, religious organizations) are classified as private foundations. Organizations classified as private foundations are subject to restrictions and requirements in addition to those applicable to exempt charities generally. Under [section] 4942(j)(3), also added by the 1969 Tax Reform Act, certain private foundations, known as private operating foundations, are exempted from some of those burdens placed on private foundations. Those private operating foundations, known as exempt operating foundations, are exempt from the [section] 4940 tax on investment income as well. Certain non-operating private foundations also receive special treatment."
Published as Estates, gifts and trusts portfolio 876, -2012. Formerly published in Washington, D.C., 2000-2007. Title from title screen (viewed June 7, 2012).
Bibliography, etc. Note
Includes bibliographical references.
Formatted Contents Note
Detailed analysis. Introduction Organizations subject to classification Advantages and disadvantages of public charities and private foundations Scope of [section] 509 Public charity status based on activities: Section 509(a)(1) organizations Publicly supported organizations Section 509(a)(2) organizations Section 170(b)(1)(A)(vi) organizations Community trusts Donor-advised funds Supporting organizations: Section 509(a)(3) Section 509(a)(4) organizations Private operating foundations Special private nonoperating foundations Foreign exempt organizations Nonexempt charitable trusts Working papers.
Digital File Characteristics
System Details Note
Mode of access: World Wide Web.