non-profit pass through donations Corporate Law

Discussion in 'Business & Corporate Matters' started by J_Wilks, Oct 7, 2009.

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  1. J_Wilks

    J_Wilks Law Topic Starter New Member

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    Catholic High School 501(c)(3) received a $100,000 donation designated for graduating seniors for their college expenses. 1 scholarship each year for $4000 for 20 years. The high school may invest the funds and use interest for school operations. Is this okay or a not allowed pass through? Especially since a potential college may be a for profit? Thanks
     
  2. traffic101

    traffic101 New Member

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    Wow, somebody was really generous! I wish I can help with that answer. Good luck.
     
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