Events
The National Heritage Foundation (NHF) was formed by Dr. J.T. "Dock" Houk in 1994. It became one of the largest donor-advised funds in the country.
On August 16, 2006, in response to the Pension Protection Act of 2006, NHF changed the way they made grants from their umbrella projects to charitable programs. NHF informed all its projects that only 26 U.S.C. ยง 501(c)(3) organizations would be able to continue to receive grants from NHF.
In January 2009, the NHF filed for chapter 11 bankruptcy protection while appealing a lost lawsuit. During this bankruptcy process, donor advised foundations were not able to disburse funds to other non-profits.
In late 2009, NHF emerged from bankruptcy and has fulfilled its reorganization plan.
On November 21, 2011 NHF's tax exempt status was voluntarily revoked.
Read more about this topic: National Heritage Foundation
Famous quotes containing the word events:
“The prime lesson the social sciences can learn from the natural sciences is just this: that it is necessary to press on to find the positive conditions under which desired events take place, and that these can be just as scientifically investigated as can instances of negative correlation. This problem is beyond relativity.”
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