In PLR 201002045, the IRS ruled that scholarships provided by a private foundation to support individuals pursuing an education in a hospice-related field were not taxable expenditures by the foundation. Scholarship recipients were selected based on a number of eligibility criteria, including academic performance and the desire to work in the hospice field, and the IRS held that the scholarship program and related grant program met all of the requirements for tax-exemption under the Internal Revenue Code.
Posted by Jenny Robertson, Associate Editor, Wealth Strategies Journal.
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