Start-up period.

(i) Start-up period. For private foundations created before January 1, 1972, the start-up period is the four taxable years immediately preceding the taxable year beginning in calendar year 1976. For private foundations created after December 31, 1971 (or for organizations that first become private foundations after that date), the start-up period is the four taxable years following the taxable year in which the private foundation was created (or otherwise became a private foundation). For purposes of this subparagraph (4), a private foundation will be considered created in the taxable year in which the private foundation's distributable amount (as determined under section 4942(d)) first exceeds $500.

Source

26 CFR § 53.4942(a)-3


Scoping language

None
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