PLR 201719004: Foundation’s Grant Results in Indirect Self Dealing

Lewis J. Saret recently posted an IRS letter, PR201719004.  Provided below is a summary of the referenced article:

In PLR 201719004, the Service ruled that a private foundation’s grant to an exempt organization created by the foundation founder’s granddaughter to purchase waste recycling collection containers is a qualifying distribution under Section 4942, but the transfer of waste to the granddaughter’s limited liability company would result in indirect acts of self-dealing.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.