Welcome to EO Radio Show - Your Nonprofit Legal Resource. In this episode, Cynthia Rowland focuses on IRC Section 4945(g), which provides an exception for grants to individuals so that the penalty taxes for such grants won’t apply. She covers the requirements for a private foundation to establish a program that makes grants to individuals, awarded on an objective and nondiscriminatory basis according to a procedure approved in advance by the IRS.
The episode covers the requirements for demonstrating to See more +
Welcome to EO Radio Show - Your Nonprofit Legal Resource. In this episode, Cynthia Rowland focuses on IRC Section 4945(g), which provides an exception for grants to individuals so that the penalty taxes for such grants won’t apply. She covers the requirements for a private foundation to establish a program that makes grants to individuals, awarded on an objective and nondiscriminatory basis according to a procedure approved in advance by the IRS.
The episode covers the requirements for demonstrating to the satisfaction of the IRS that the grant constitutes a scholarship or fellowship grant or the grant constitutes a prize or award, the purpose of which is to achieve a specific objective, produce a report or other similar product, or improve or enhance a literary, artistic, musical, scientific, teaching, or other similar capacity, skill, or talent of the grantee.
Episode resources: www.fbm.com/exempt-organizations/publications/nonprofit-basics-scholarship-grant-program-irs-approval-requirements/
If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com. Additional episodes can be found at EORadioShowByFarella.com.
DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion. See less -
