Transcription of Private Foundation vs Public Charity
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Private Foundation vs Public Charity
Buynak & Fauver 820 State Street, 4th Floor | Santa Barbara, California 93101 | (805) 966-7000 tel | 2011 Buynak & Fauver (Rev. 6/26/2012) Private FOUNDA TION VERSUS Public Charity (Non Profit Advisory No. 5) Most nonprofit entities -- and especially their primary donors -- want to insure that they have Public Charity status for the 50% deduction of contributions, rather than being a Private Foundation with a restricted 30% deduction for contributions. This Advisory sets forth the tax formulas used by the Internal Revenue Service (IRS) (and state taxing authorities) to maintain Public Charity status.
Private Foundation versus Public Charity PAGE 2 OF 6 Buynak & Fauver 820 State Street, 4th Floor | Santa Barbara, California 93101 | (805) 966-7000 tel | www.BuynakFauver.com
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