District Of Columbia § 29-404.43 - Private foundations.
Full text of District Of Columbia D.C. Code § 29-404.43 — Private foundations., with citation guidance and answers to common questions.
§ 29-404.43. Private foundations.
29-404.43Except as otherwise provided in subsection (b) of this section, a nonprofit corporation that is a private foundation as defined in section 509(a) of the Internal Revenue Code of 1986, approved December 30, 1969 (83 Stat. 496; 26 U.S.C. § 509(a)) (“Internal Revenue Code”), shall:
Distribute such amounts for each taxable year at such time and in such manner as not to subject the corporation to tax under section 4942 of the Internal Revenue Code;
Not engage in any act of self-dealing as defined in section 4941(d) of the Internal Revenue Code;
Not retain any excess business holdings as defined in section 4943(c) of the Internal Revenue Code;
Not make any investments in such manner as to subject the corporation to tax under section 4944 of the Internal Revenue Code; and
Not make any taxable expenditures as defined in section 4945(d) of the Internal Revenue Code.
Subsection (a) of this section shall not apply to a nonprofit corporation incorporated before January 1, 1970 that has been properly relieved from the requirements of section 508(e)(1) of the Internal Revenue Code by a timely judicial proceeding.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 29-404.43
What does D.C. Code § 29-404.43 cover?
Section 29-404.43 ("Private foundations.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 29-404.43?
A common citation format is "D.C. Code § 29-404.43" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 29-404.43 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.