Private Inurement Trumps Tax Exemption
Ben Blanton - Baker & Daniels LLP
October 2, 2007
The IRS published a private determination revoking the exemption of a private grant-making foundation under Internal Revenue Code (“Code”) section 501(c)(3). The determination is a good example of how the private use of an organization’s assets can defeat its entitlement to the significant benefits of tax exemption.
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