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Abstract: 

A form of foundation that can be more useful and workable than some advisors may realize is the private operating foundation (POF). It is often thought of as a foundation that owns and operates a physical facility, such as a museum or park, and devotes the bulk of its distributions to the maintenance and operations of that facility. Indeed, this is perhaps the most common variety of POF, but the Internal Revenue Code requirements for qualification permit a much broader range of foundations to qualify.

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