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ZACK ROSS FOUNDATION IS A PRIVATE OPERATING FOUNDATION
Private Operating Foundations
In general, a private operating foundation is a private foundation that devotes most of its resources to the active conduct of its exempt activities.
Private Pass-through ) are generally limited to 30 Foundation . Also, contributions to private operating foundations described in Internal Revenue Code section 4942(j)(3) are deductible by the donors to the extent of 50 percent of the donor’s adjusted gross income, whereas contributions to all other private foundations (except those discussed under excise tax on failure to distribute income that generally apply to private foundation activity. However, operating foundations are not subject to the restrictions and to the other requirements and tax on net investment incomeA private foundation may qualify for treatment as a private operating foundation. These foundations generally are still subject to the percent of the donor’s adjusted gross income. In addition, a private operating foundation may receive qualifying distributions from a private foundation if the private foundation does not control it.