Thank you for your question.
For a foundation to receive the tax considerations of a foundation (privately owned or not), they must be properly registered with the IRS. Other entities may defer to the IRS' classification of the entity in determining whether it meets the definitions of a "foundation".
Please let me know if you have any other questions on this matter or require clarification. Otherwise please hit "ACCEPT" so I may receive credit for my efforts.
If you have additional questions, please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.
Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.
There can also be a delay of an hour or more in between my answers because I may be helping other customers or taking a break.
Use of this service does not create any attorney client relationship. Any information provided is not the practice of law but intended to direct you in finding an attorney in your locale.
You can always request me with beginning your question with "For LawGirl..."