can a tax-exempt foundation give money to a private for-profit corporationI am not an attorney of any kind.A tax exempt corporation can give money to the gas company, the electric company, the sewer company, the water company. It can give money to a heating contractor, the snow plowing company, and so on. I suppose they are not gifts in the usual sense. I believe a tax exempt corporation can give money to an individual and get nothing in return, provided there were no strings attached to the money that was given to the tax exempt. And since corporations are now the same as people, but have fewer responsibilities, they can probably give to anyone they want, always provided they comply with any restrictions placed on the gifts they have received.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar