CHAPTER 17Taxable Expenditures: IRC § 4945
§ 17.3 Grants to Individuals
(a) Meaning of “Travel, Study, or Other Purposes”
p. 507. At top of page, after partial paragraph, add IRS description of requirements for such a grant:
“Your purposes include providing financial support to charitable causes, including education, arts and culture, the environment, health and health care, women's causes, B causes, and social and human services. You will focus on making grants to individuals from historically marginalized communities, such as E in the community.
Pursuant to IRC § 4945(g)(1), you may award scholarships to students who plan to enroll or are enrolled at an educational institution of higher learning described in §170(b)(1)(A)(ii). The purpose of these awards is to improve access to tertiary education for deserving students lacking the financial resources to cover tuition and other educational expenses. The scholarships will provide for tuition, fees, books, supplies, equipment required, and for other expenses related to matriculation, such as housing and other related living expenses.”1
p. 507. Add after the Scenario 3 paragraph:
Scenario 4. Application requirements for two different grant programs will be publicized on an organization's website. The K program will provide scholarships to talented persons nominated by O school as having ...
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