http://worldcat.org/entity/work/id/342540822

Private foundations and public charities-- termination ([section] 507) and special rules ([section] 508)

"...is one of several portfolios dealing with the problems encountered by private foundations and other charitable organizations. This portfolio considers in depth the various restrictions imposed under §508 upon charitable organizations. Included among these are the rule that requires organizations purporting to be tax-exempt under §501(c)(3) to notify the IRS of their claimed status, and the rule that presumes a §501(c)(3) organization to be a private foundation unless it notifies the IRS to the contrary. This portfolio discusses the manner of giving such notifications by filing applications for recognition of exemption and the exceptions to such notification requirements. The governing instrument requirements imposed by §508(e) are also fully addressed. In addition, the terms "substantial contributor" and "disqualified person," which have significance to foundations whether they are terminating or continuing in operation, are fully explained and illustrated from a practical standpoint."

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