Private foundation definition

Private foundation means a tax exempt corporation described in section 501(c)(3) of the internal revenue code of 1986, 26 USC 501, that is classified as a private foundation under section 509(a) of the internal revenue code of 1986, 26 USC 509.

Private foundation means "private foundation" as defined in the Income Tax Act (Canada) as amended from time to time;

Private foundation means a private foundation as defined in Section 509 of the

Examples of Private foundation in a sentence

• Private foundation X purchased preferred stock of corporation M, a disquali- fied person with respect to X, on March 15, 1969.

• Private foundation P owns the controlling interest of the voting stock of corporation X, and as a result of such inter- est, elects a majority of the board of direc- tors of X.

• Private foundation X estab- lished a program to award scholarship grants to the children of employees of corporation M, a substantial contributor to X.

• Private foundation W owns the controlling interest of the voting stock of corporation X, a manufacturer of certain electronic computers.

• Private foundation X permits A, a substantial contributor to X, and her spouse, H, to use an automobile owned by X and normally used in its foundation activi- ties to travel from State Z to State Y for a vacation on December 1, 1971.

More Definitions of Private foundation

Private foundation means "private foundation" as defined in the Income Tax Act

Private foundation means “private foundation” as defined in the Tax Act; (oo) "Public Foundation" means “public foundation” as defined in the Tax Act; (pp) "Registered Charity" means “registered charity” as defined in the Tax Act;

Private foundation means a charitable foundation that is not a public foundation;

Private foundation means a foundation as defined in article 31B of the Second Schedule of the Civil Code.

Private foundation means the legal entity, defined in section 60.3, established and registered under this Law;

Private foundation is defined in Section 2.12.

Private foundation means a foundation which is established for the private interest or benefit of a named person or a class of persons who are natural persons. For the avoidance of doubt, the term "private foundation" shall have the meaning herein attributed to it and not the meaning attributed to it in the Second Schedule;