Choose Your Foundation Classification on Form 1023-EZ Carefully
Choosing the correct foundation classification on Form 1023-EZ is important. Different operational rules apply to public charities and private foundations. Most organizations described in section 501(c)(3) are classified as public charities rather than private foundations. In choosing your foundation classification, carefully review the instructions for Part IV to ensure that you are correctly identifying your status based on your expected sources of funding. The IRS will process your Form 1023-EZ application with the foundation classification you choose.