Taxes: Foundations as Easy as ABC

Everyone has heard of the Ford Foundation. And the Rockefeller Foundation, and the many Guggenheim foundations. But who ever heard of the Robert O. Hayes Foundation of Grand Blanc, Mich.? It exists, however, and according to its records, it made recent grants of $2 each to the Easter Seal campaign, the American Cancer Society and the Muscular Dystrophy Association. But the size of its operations do not legally make a foundation any less taxexempt, and that is the point.

The Robert O. Hayes Foundation is only one of hundreds of small, not-for-profit foundations...

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