Thursday, September 5, 2013
Recently, the IRS issued a private letter ruling that held that a proposed grant to a charitable trust would not affect the tax-exempt status of the foundation. A private non- operating foundation was requesting a grant to a charitable trust. The foundation wanted to create the trust and make a capital bequest to the trust. Additionally, the grant will not create net investment income nor will it constitute self-dealing, and will not be something that will jeopardize an investment.
See Sarah Choi, PLR On Proposed Grant to Charitable Trust, Wealth Strategies Journal, Sept. 3, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.