History
The Tax Reform Act of 1969 created private foundations and imposed greater restrictions upon this classification including excise taxes and lower donor deductions for contributions. This Act created supporting organizations as an exception to private foundations because they were organized, operated, and controlled in the public interest. Supporting organizations were not subject to the problems and abuses found in foundations that led to the creation and associated restrictions on private foundations.
Read more about this topic: Supporting Organization (charity)
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“This above all makes history useful and desirable: it unfolds before our eyes a glorious record of exemplary actions.”
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““And now this is the way in which the history of your former life has reached my ears!” As he said this he held out in his hand the fatal letter.”
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