- 2 -
section references are to the applicable versions of the Internal
Revenue Code. Rule references are to the Tax Court Rules of
Practice and Procedure.
Background
We decide this case on the basis of the entire
administrative record, see Rule 217(b)(1), which is incorporated
herein by this reference. Petitioner's mailing address was in
Ontario, California, when its petition was filed.
William J. Tully is a promoter of tax-exempt entities, and
he was retained by Donald Tamaki to form for him a tax-exempt
foundation. Mr. Tully organized a corporation named "Tamaki
Foundation" (petitioner herein). Petitioner's officers are Mr.
Tully (vice president), Mr. Tamaki (president), and Mr. Tamaki's
wife, Mary (secretary and treasurer). These officers also serve
as directors on petitioner's board.
Mr. Tully filed articles of incorporation for petitioner
with the Nevada secretary of state, and he prepared bylaws for
the corporation. The articles state that petitioner's primary
purpose is "TO PROVIDE FINANCIAL ASSISTANCE TO THE NEEDY." The
bylaws state that petitioner's primary purpose is that set forth
in the articles. The bylaws further state that "Nothing herein
contained shall be construed to prevent any Director from
receiving compensation for services to the Corporation rendered
in a capacity other than Director."
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011