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: https://www.irs.gov/charities-non-profits/private-foundations/definition-of-private-operating-foundation

IRS form 4720 (Return of Certain Excise Taxes) Instructions: https://www.irs.gov/pub/irs-pdf/i4720.pdf

IRS form 990PF (Annual Return of Private Foundation) Instructions: https://www.irs.gov/pub/irs-pdf/i990pf.pdf

IRS form 8940, (Request for Miscellaneous Determination): https://www.irs.gov/charities-non-profits/form-8940-for-miscellaneous-determination-requests

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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.