§ 4942(j)(5)

an operating foundation

UNDECIDED

0 of 2 settled

  1. 1

    § 4942(j)(5)

    ALL OF
    “on May 26, 1969, and at all times thereafter before the close of the taxable year, operated and maintained as its principal functional purpose facilities for the long-term care, comfort, maintenance, or education of permanently and totally disabled persons, elderly persons, needy widows, or children”
    “such organization meets the requirements of paragraph (3)(B)(ii)” needs Step 2 meets (B)(ii) distribution test UNDECIDED
  2. 2

    § 4942(j)(3)(B)(ii)

    meets (B)(ii) distribution test

    ALL OF
    “which normally makes qualifying distributions (within the meaning of paragraph (1) or (2) of subsection (g)) directly for the active conduct of the activities constituting the purpose or function for which it is organized and operated in an amount not less than two-thirds of its minimum investment return (as defined in subsection (e))”