Private Letter Rulings Private Operating Foundation Operation of Hotel & Convention Center Complex OK Despite Some Benefits to Insiders
Author: Staff Editors.
Source: Volume 06, Number 06, September/October 2007 , pp.9-9(1)
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Abstract:
Private operating foundations have active operating programs rather than passive grantmaking programs—that’s what they do. Their contributors get all the deduction benefits associated with contributions to a public charity, but most of the regular Chapter 42 private foundation operating restrictions and penalty taxes still apply. PLR 200727020Keywords:
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