The foundation made final contributions to charitable organizations described in Part XIV of Form 990-PF with all of its remaining capital. As there are no more assets to be distributed from the foundation to fulfill its purpose, the officers and trustees of the organization voted and confirmed the finalization of the foundation and dissolution on December 28, 2021.Transfer of assets to certain public charities: A private foundation may terminate its status under section 507(b)(1)(A) by distributing all its net assets to one or more organizations with a ruling or determination letter described in section 509(a)(1). However, the organization to which the distribution is made must have been in existence and so described for a continuous period of at least 60 months before the distribution. A private foundation that terminates its status in compliance with section 507(b)(1)(A) is not required to notify the IRS of its intent to terminate, and does not owe the termination tax.
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