Warren M. Goodspeed Scholarship Fund, Baybank Merchants, N.A. v. Commissioner
United States Tax Court
Petitioner is a testamentary trust. The decedent's will, which is petitioner's organizing document, specified that the income of the trust was to be used to provide scholarships at Yale College for students of the Duxbury, Mass., High School and other bona fide residents of Duxbury.
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Petitioner is a testamentary trust. The decedent's will, which is petitioner's organizing document, specified that the income of the trust was to be used to provide scholarships at Yale College for students of the Duxbury, Mass., High School and other bona fide residents of Duxbury. The Commissioner determined that petitioner was a private foundation, and not a supporting organization as defined by sec. 509(a)(3), I.R.C. 1954. The Commissioner relied solely on the ground that petitioner's organizing document did not state with adequate specificity that petitioner was organized for the benefit…
1Opinion of the Court
OPINION
Raum, Judge:
The Commissioner determined that petitioner is a private foundation as defined in section 509(a), I.R.C. 1954. The petitioner has invoked the jurisdiction of this Court, pursuant to section 7428,1 for a declaratory judgment that it is an organization described in section 509(a)(3) and therefore not a private foundation. The only question is whether petitioner satisfies the organizational test set forth in sections 1.509(a)-4(c)(l)(i) and 1.509(a)-4(c)(2), Income Tax Regs.
This case is submitted for our decision under Rule 122, Tax Court Rules of Practice and Procedure. The…
2Cases cited3 opinions
- Taft v. HelveringSupreme Court of the United States · 1940
- Waller v. CommissionerUnited States Tax Court · 1963
- Elisian Guild, Inc. v. United StatesCourt of Appeals for the First Circuit · 1969
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- Peoples Translation Service/Newsfront Int'l v. CommissionerUnited States Tax Court · 1979
- Change-All Souls Housing Corp. v. United StatesUnited States Court of Claims · 1982
- Cockerline Memorial Fund v. CommissionerUnited States Tax Court · 1986
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