Harvard University’s tax-exempt status has been questioned by the Trump Administration—with Harvard responding that there is no legal basis for a revocation. The Administration’s action...
Many states are implementing energy benchmarking programs to track and identify energy use in buildings. These programs aim to encourage energy efficiency and reduce greenhouse gas emissions. Check out...
When engaging in M&A discussions, parties should prioritize rigorous confidentiality measures to protect sensitive business information. Our new confidentiality agreement playbook offers valuable insights...
This practice note discusses Institutional Review Boards (IRBs) within the United States, including their purpose, history, and regulatory framework. The note is a valuable resource for advising life sciences...
Do you need guidance on tipped employee requirements under the Fair Labor Standards Act (FLSA)? Read our newly published checklist, Tipped Employees Checklist (FLSA) , for helpful information. Read now...
A private foundation is an IRC Section 501(c)(3) organization operated for religious, charitable, scientific, and other purposes outlined in the tax code. Private foundations differ from public charities in that a public charity’s funding comes from the public or the federal government. Private foundations, on the other hand, receive funding from limited sources like a person, family, or corporation. This practice note is a vital tool for practitioners to analyze a private foundation’s IRC Section 501(c)(3) status, organizing documents, its purpose clause, and to reference pertinent IRS forms including Forms 1023 and 990-PF annual return.
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