What are the Foundation Codes?

Foundation Code
Foundation Code With this setting, you will determine how GIFTS handles the Foundation Code data from the IRS or Canada Revenue Agency databases.

You can choose to either store the Foundation Code data in the Tax Notes field or, if the Subsection Code is 3, to create a secondary Tax Status code. The possible Tax Status codes are as follows: 10 through 17=Public Charity 02 or 03=Private Operating Foundation 04=Private Nonoperating Foundation If you want the description of sub-status Foundation Codes for 509(a)(3) charities to display, add the following codes to your Tax Status code table in the Administrator module.  

Default description values are also provided, although you can modify these Code Default Description F10-15 509(a)(1) F16 509(a)(2) under 170(b)(1)(A)(vii) F17 509(a)(3) under 170(b)(1)(A)(viii) F18 509(a)(4) You can add any description to the codes, although if you do not add a description, the default description will display. 



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