Information For...

For you and your family
Standard mileage and other information

Forms and Instructions

Individual Tax Return
Request for Taxpayer Identification Number (TIN) and Certification
Single and Joint Filers With No Dependents
Employee's Withholding Allowance Certificate


Request for Transcript of Tax Returns
Employer's Quarterly Federal Tax Return
Installment Agreement Request
Wage and Tax Statement

Popular For Tax Pros

Amend/Fix Return
Apply for Power of Attorney
Apply for an ITIN
Rules Governing Practice before IRS

"Disqualified Individual" - Exempt Operating Foundation

Disqualified individual, for purposes of the requirements regarding composition of the gov­erning body and officers of an exempt operating foundation, means any of the following:

  1. An owner of more than 20 percent of--
    a.  The total combined voting power of a corporation,
    b.  The profits interest of a partnership, or
    c.  The beneficial interest of a trust or unin­corporated enterprise, which is a sub­stantial contributor to the foundation, or
  2. A member of the family of any individual described in (1) or (2).

Indirect ownership of stock in a corporation, profits interest in a partnership, or beneficial interest in a trust or unincorporated enterprise is taken into account for determining a disqualified individual under (2) above, according to the rules explained under Attribution of ownership.

Return to Life Cycle of a Private Foundation