Foundations

[RICHARD ROMEO]

I wonder if Steely, who's obviously done some heavy research into this

subject, knows if SL profits under Spielberg's discretion but not in the

annual budget cited above are being kept in a foundation trust.  A 
related

question:  is the "total budget" of SHOAH for one year or somehow

comprehensive, including last year's, next year's, and next century's

monies?  Futhermore, what exactly is secret about an IRS form numbered

990-F?

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There is nothing secret about form 990-pf.  It is the informational 
return private foundations file with the IRS (In fact, you can look at 
any 990-pf from any private foundation in the country at my place of 
employment, The Foundation Center) which is public record.  Now, as to 
foundations filing the form properly or if the IRS can properly monitor 
such forms is another question. Frankly, the IRS couldn't care less about 
foundation returns.  Sure Congress nailed PF's in 1969 to make them more 
accountable, but the mechanism for regulation cannot work under the 
present financial/political climate.   



Richard Romeo

Coordinator of Cooperating Collections

The Foundation Center-NYC

212-807-2417

rromeo at fdncenter.org