Legal Question in Tax Law in Arkansas

endowmentfor 501c3

Is an endowment considered an asset when you are dissolving a 501c3? If you have an addendum that requires that assets go to another nonprofit or gov. does this include the endowment? Can the heirs of the estate take it back?


Asked on 3/20/09, 11:07 am

1 Answer from Attorneys
Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

Re: endowmentfor 501c3

Yes, if the endowment is owned by the Non-Profit organization it is an asset. If it is a Trust, then the terms of the Trust will control its disposition.

I hope this helps!

Ron Cappuccio

www.NonProfitEsq.com

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Answered on 3/20/09, 1:31 pm


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