December 12, 2013
Jane Fonda's Charity In Violation Of State Laws
[From article]
Though Jane Fonda’s private foundation has nearly $800,000 in assets, the group has not made a charitable contribution during the last five years for which it has filed federal tax returns, an apparent violation of Internal Revenue Service rules.
[. . .]
IRS regulations require private foundations to make annual distributions totaling at least five percent of its assets. The rule is intended to prevent foundations from stockpiling and investing funds (while never making contributions, gifts, or grants). If adhered to, the so-called Five Percent Rule would have forced Fonda to distribute a minimum of about $40,000 in 2011.f a private foundation fails to make required minimum distributions, it faces stiff IRS penalties.
http://www.thesmokinggun.com/documents/Jane-Fonda-Foundation-990-675413
DECEMBER 12, 2013
Fonda Foundation Not So Charitable, Records Show
With 800k in bank, star's group hasn't donated dime since 2006
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