"Miss Elizabeth" D. Leckie Scholarship Fund v. Commissioner
United States Tax Court
P, a "sec. 509(a) private foundation," seeks a declaratory judgment from R's final ruling denying it "operating foundation" status, as defined in sec. 4942(j)(3), I.R.C. 1954. P is already a charitable trust exempt from Federal income taxation under sec. 501(c)(3), I.R.C. 1954, but would gain additional benefit from "operating foundation" status, including an exemption from excise tax under sec. 4942, I.R.C. 1954. See secs. 4942(a) and 4942(a)(1), I.R.C. 1954. P anticipated…
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P, a "sec. 509(a) private foundation," seeks a declaratory judgment from R's final ruling denying it "operating foundation" status, as defined in sec. 4942(j)(3), I.R.C. 1954. P is already a charitable trust exempt from Federal income taxation under sec. 501(c)(3), I.R.C. 1954, but would gain additional benefit from "operating foundation" status, including an exemption from excise tax under sec. 4942, I.R.C. 1954. See secs. 4942(a) and 4942(a)(1), I.R.C. 1954. P anticipated $ 6,600 annual interest income, $ 6,000 of which was to be applied to scholarships and $ 600 to administrative expenses.…
1Opinion of the Court
OPINION
GERBER, Judge:
Petitioner brings this action for a declaratory judgment, pursuant to section 7428,1 seeking a redetermination of respondent’s adverse ruling as to petitioner’s status as an operating foundation under section 4942(j)(3). The record in this case consists of a stipulated administrative record with attached exhibits, and is incorporated herein by this reference. See Rules 210(b)(ll) and 217(a).
Petitioner, the “Miss Elizabeth” D. Leckie Scholarship Fund (sometimes referred to as the foundation or the trust), is a charitable trust created by an agreement executed November 1,…
2Cases cited3 opinions
- Huntsberry v. CommissionerUnited States Tax Court · 1984
- Garrison v. CommissionerUnited States Tax Court · 1986
- Trust Under Will of Mabury v. CommissionerUnited States Tax Court · 1983
3Cited by6 opinions
- Estate of Monroe v. CommissionerUnited States Tax Court · 1995
- In re the Estate of TubbsCourt of Appeals of Kansas · 1995
- Miller Charitable Fund v. CommissionerUnited States Tax Court · 1987
- "Miss Elizabeth" D. Leckie Scholarship Fund v. CommissionerUnited States Tax Court · 1986
- Estate of Monroe v. CommissionerUnited States Tax Court · 1995
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