DURING 2020, THE TRUSTEES OF MICHAEL SIMMONS CHARITABLE FOUNDATION (TRUST) CREATED A NONPROFIT CORPORATION, WHICH IS ALSO CLASSIFIED AS A PRIVATE FOUNDATION, TO FACILITATE THE CONDUCT OF THE TRUST'S CHARITABLE ACTIVITIES, WHICH THE TRUSTEES HAVE DETERMINED CAN BE MORE EFFECTIVELY ACCOMPLISHED BY OPERATING IN A CORPORATE FORM. IN OCTOBER OF 2021, THE TRUST TRANSFERRED ITS INVESTMENT ASSETS EXCEPT FOR A MINIMAL AMOUNT WHICH REMAINED IN THE TRUST'S CASH ACCOUNT TO MICHAEL SIMMONS CHARITABLE FOUNDATION, INC. (CORPORATION), THE NEWLY CREATED NONPROFIT CORPORATION. SUBSEQUENTLY, DURING 2023 A RESOLUTION OF THE BOARD OF TRUSTEES WAS FILED AUTHORIZING THE TERMINATION OF THE TRUST EFFECTIVE DECEMBER 31, 2023. ALL REMAINING ASSETS, WHICH WERE LIMITED TO CASH BALANCES, WERE TRANSFERRED TO MICHAEL SIMMONS CHARITABLE FOUNDATION INC., THE NONPROFIT CORPORATION, IN OCTOBER OF 2023. THE CORPORATION IS EFFECTIVELY CONTROLLED BY THE SAME PERSON OR PERSONS THAT EFFECTIVELY CONTROL THE TRUST. UNDER SECTION 1.507-3(A)(9)(I), IF A PRIVATE FOUNDATION TRANSFERS ALL OR A PORTION OF ITS NET ASSETS TO ONE OR MORE PRIVATE FOUNDATIONS THAT ARE EFFECTIVELY CONTROLLED, DIRECTLY OR INDIRECTLY, BY THE SAME PERSON OR PERSONS THAT EFFECTIVELY CONTROLLED THE TRANSFEROR PRIVATE FOUNDATION, THE TRANSFEREE PRIVATE FOUNDATION WILL BE TREATED AS IF IT WERE THE TRANSFEROR PRIVATE FOUNDATION FOR PURPOSES OF SECTION 4940 THROUGH 4948 AND SECTION 507 THROUGH 509.
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2022 data appears limited (dashed line) because the IRS transitioned its e-filing system that year and only published 2 months of XML archives.