What are private foundation taxable expenditures?
Private foundation taxable expenditures are grants or expenditures prohibited by the IRS. The IRS prohibits these taxable expenditures: Influencing public elections: There are significant penalties for participating in an election, and this may be grounds for revoking the foundation’s tax-exempt status. Noncharitable activities: A grant or questionable administrative expenditure for noncharitable purposes may subject the... Read More