Article Archives >> Lead Stories >> September 16-30, 2003
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Pew Trusts to Convert to Public Charity
Switch from private foundation status will save $4 million in taxes, give grantmaker greater flexibility in programming
The Pew Charitable Trusts, which has operated as one of the largest private foundations in the nation with assets of about $4 billion, is reorganizing to become a public charity. The Internal Revenue Service has issued an advance ruling that the new organization will qualify as publicly supported under the “facts and circumstances” test of Sections 509(a)(1) and 170(b)(1)(A)(vi) of the Tax Code.
Article Archives >> Lead Stories >> September 16-30, 2003
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