{"data":{"id":"us-wa/rcw-24.03a.175","jurisdiction":"us-wa","citation":"RCW 24.03A.175","heading":"Private foundations.","body":"(1) Except as provided in subsection (2) of this section, a nonprofit corporation that is a private foundation as defined in section 509(a) of the internal revenue code shall:\n(a) Distribute sufficient amounts for each taxable year at a time and in a manner so as not to subject the corporation to tax under section 4942 of the internal revenue code;\n(b) Not engage in any act of self-dealing as defined in section 4941(d) of the internal revenue code;\n(c) Not retain any excess business holdings as defined in section 4943(c) of the internal revenue code;\n(d) Not make any investments in a manner that subjects the corporation to tax under section 4944 of the internal revenue code; and\n(e) Not make any taxable expenditures as defined in section 4945(d) of the internal revenue code.\n(2) Subsection (1) of this section does 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.","path":["Title 24","Chapter 24.03A"],"source_url":"https://app.leg.wa.gov/rcw/default.aspx?cite=24.03A.175","current_through":"July 15, 2026","vintage":"","retrieved_at":"2026-09-06T01:39:38Z","sha256":"2fce3feadb09b99830c916647bd0f2400489105001a796c9f8407d364a9af306","source_id":"us-wa","stale":false,"prev":"us-wa/rcw-24.03a.170","next":"us-wa/rcw-24.03a.180"},"notice":"GroundRules: Original legal text. Not legal advice."}