In PLR 201719004, the Service ruled that a private foundation’s grant to an exempt organization created by the foundation founder’s granddaughter to purchase waste recycling collection containers is a qualifying distribution under Section 4942, but the transfer of waste to the granddaughter’s limited liability company would result in indirect acts of self-dealing.

See full PLR 201719004 by clicking here.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.