Why is it important for private foundations to verify a potential grant recipients status in Publication 78?
There are several reasons why it is best practice for private foundations to verify a potential grant recipient’s status in Publication 78: • Internal foundation documents may limit grants to public charities. • To document qualified expenditures for meeting payout requirements and for reporting on Form 990-PF. • To avoid expenditure responsibility for the grant.
Related Questions
- How does the recipient of an e-Apostille verify its origin, including the current status of a Competent Authoritys digital certificate?
- Why is it important for private foundations to verify a potential grant recipients status in Publication 78?
- Can private foundations rely on information from IRS Publication 78 and the Internal Revenue Bulletin?
