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Accounting & Bookkeeping & Small Business Forum
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savanjoy@yahoo.com
Joined: 12 Oct 2005
Posts: 2
Location: Los Angeles, CA 90060
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| Posted: Wed Jan 25, 2006 7:10 pm Post subject: Annual distribution required for an scholarship foundation? |
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I organized and closed the books last year, but this is the first month in a new year as bookkeeper for the foundation. As the 5-year-old organization plans for the current year 2006, making its next 5-year projections, the management is discussion placing a hold on all distributions. Where can I find information on the required annual distribution for a 501(c)(3) which grants scholarships and tuition awards?
Pub. 578 was a little helpful until it starting referring to a "private foundation" and 5% versus 100% in fifth year - Thank you in advance I hope someone has an answer. |
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Bryancpa
Joined: 15 Aug 2005
Posts: 190
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| Posted: Mon Feb 13, 2006 4:50 pm Post subject: |
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| The following website has some great information on 501(c)(3)'s http://www.irs.gov/charities/charitable/index.html |
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