83 STAT. ]
PUBLIC LAW 91-172-DEC.30, 1969
495
"(1) unless it has given notice to the Secretary or his delegate, in such manner as the Secretary or his delegate may by regulations prescribe, that it is applying for recognition of such status, or "(2) for any period before the giving of such notice, if such notice is given after the time prescribed by the Secretary or his delegate by regulations for giving notice under this subsection. For purposes of paragraph (2), the time prescribed for giving notice under this subsection shall not expire before the 90th day after the day on which regulations first prescribed under this subsection become final. "(b)
PRESUMPTION T H A T ORGANIZATIONS ARE PRIVATE FOUNDA-
TIONS.—Except as provided in subsection (c), any organization (including an organization in existence on October 9, 1969) which is described in section 501(c)(3) and which does not notify the Secretary or his delegate, at such time and in such manner as the Secretary or his delegate may by regulations prescribe, that it is not a private foundation shall be presumed to be a private foundation. The time prescribed for giving notice under this subsection shall not expire before the 90th day after the day on which regulations first prescribed under this subsection become final.
68A Stat. 163. 26 USC 501.
" (c) EXCEPTIONS.—
"(1) MANDATORY EXCEPTIONS.—Subsections (a) and (b) shall not apply to— ' ' (A) churches, their integrated auxiliaries, and conventions or associations of churches, or " (B) any organization which is not a private foundation (as denned in section 509(a)) and the gross receipts of which in each taxable year are normally not more than $5,000. "(2) EXCEPTIONS BY REGULATIONS.—The Secretary or his delegate may by regulations exempt (to the extent and subject to such conditions as Taa,y be prescribed in such regulations) from the provisions of subsection (a) or (b) or both— " (A) educational organizations which normally maintain a regular faculty and curriculum and normally have a regularly enrolled body of pupils or students in attendance at the place where their educational activities are regularly carried on; and " (B) any other class of organizations with respect to which the Secretary or his delegate determines that full compliance with the provisions of subsections (a) and (b) is not necessary to the efficient administration of the provisions of this title relating to private foundations. "(d)
DISALLOWANCE or CERTAIN CHARITABLE, ETC.. DEDUCTIONS.— "(1) G I F T OR BEQUEST TO ORGANIZATIONS SUBJECT TO SECTION
507(c) TAX.—No gift or bequest made to an organization upon which the tax provided by section 507(c) has been imposed shall be allowed as a deduction under section 170,545 (b)(2), 556 (b)(2), 642 (c). 2055, 2106 (a)(2), or 2522, if such gift or bequest is made— " (A) by any person after notification is made under section 507(a), or " (B) by a substantial contributor (as defined in section 507(d)(2)) in his taxable year which includes the first day on which action is taken by such organization which culminates in the imposition of tax under section 507(c) and any subsequent taxable year. "(2)
G I F T OR BEQUEST TO TAXABLE PRIVATE FOUNDATION, SECTION TRUST, ETC.—NO gift or bequest made to an organization
4947 shall be allowed as a deduction under section 170, 545(b)(2), 556(b)(2), 642(c), 2055, 2106(aj(2), or 2522, if such gift or bequest is made
^^^^"^^^^^f^ ^ us^^fy^o, 26 545,556. 642! 2055, 2106, 2522.
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