<p>IRS Revokes Exempt Status of Donor-Advised Funds Sponsor</p>

IRS Revokes Exempt Status of Donor-Advised Funds Sponsor

Internal Revenue Service

The IRS revoked the tax-exempt status of a sponsoring organization for donor-advised funds that used the services of an individual who is permanently enjoined by a federal judge for promoting an abusive contribution scheme similar to contributions to its organization; thus, the organization serves non-charitable purposes and benefits private interests.

<p>The IRS revoked the tax-exempt status of a sponsoring organization for donor-advised funds that used the services of an individual who is permanently enjoined by a federal judge for promoting an abusive contribution scheme similar to contributions to its organization; thus, the organization serves non-charitable purposes and benefits private interests.</p>