No termination after transfer of assets

 

Unless the foundation notifies the Manager, EO Determinations, of its intent to terminate, no termination can take place under
section 507(a)(1) if:

  • The private foundation transfers all or part of its assets to another private foundation, or to one or more private foundations,
  • The private foundation transfers all or part of its assets to one or more section 509(a)(2), (3), or (4) organiza­tions, or
  • The private foundation transfers only part of its assets to one or more section 509(a)(1) organizations, pursuant to a liquidation, merger, redemption, recapitalization, or other adjustment, organization, or reorganization

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