Welcome to EO Radio Show – Your Nonprofit Legal Resource. In this Nonprofit Basics episode, Cynthia Rowland explains the meaning of operating foundation status for a private foundation under the federal tax rules. She also covers the test for obtaining and retaining that classification.
Resources:
IRS materials on operating foundation status
IRS form 4720 (Return of Certain Excise Taxes) Instructions
IRS form 990PF (Annual Return of Private Foundation) Instructions
IRS form 8940, (Request for Miscellaneous Determination)
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DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion.
