SHIRLEY H & RICHARD M JAFFEE FAMILY FOUNDATION HAS ELECTED TO DISTRIBUTE ALL OF THE FOUNDATION ASSETS TO APPROPRIATE PUBLIC CHARITIES (THOSE DESCRIBED UNDER IRC SECTION 170(B)(1)(A)) UNDER IRC SECTION 507(B)(1)(A), AND DISCONTINUE OPERATIONS AS A PRIVATE FOUNDATION. THE FOUNDATION HAS A PLAN OF COMPLETE LIQUIDATION AND TERMINATION (ATTACHED TO TAX RETURN) EFFECTIVE AS OF DECEMBER 31, 2018. UPON TERMINATION OF THE FOUNDATION, ALL REMAINING ASSETS OF THE FOUNDATION WILL BE DISTRIBUTED IN ACCORDANCE WITH THE PLAN EITHER (I) FOR ONE OR MORE EXEMPT PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, OR (II) TO ONE OR MORE ORGANIZATIONS EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, OR (III) TO PAY FUTURE CLAIMS AGAINST THE FOUNDATION. THE FOUNDATION HAS CEASED TO EXIST AS OF DECEMBER 31, 2018.
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