Читать книгу Achieving Excellence in Fundraising - Группа авторов - Страница 70

The Internal Revenue Code (IRC) permits two types of charitable organizations pursuant to IRC Section 501(c)(3): public benefit charities and private foundations. A charitable organization is presumed to be a private foundation unless it proves on its annual IRS 990 information return that it is a public benefit charity. The distinction is especially important since gifts to public charities provide greater tax benefits to donors. In addition, private foundations must comply with several very restrictive rules (see IRC Section 4940). These restrictions exist because a single donor (an individual, family, or corporation) can have significant control over the investments, grant‐making, and operating programs of the private foundation.