Exempt Organizations Technical Guide›TG 57: Taxes on Net Investment Income – IRC Section 4940›Table of Contents
A.1. Foundation’s Assets
0824 Publ 5580 (PDF) · 2026-10-03 edition · updated 2026-10-04 · United States
(1) The amount of a foundation’s assets is determined under Section 4942(e)(1) and
shall be treated as the excess of the:
a. Aggregate fair market value of all assets of the foundation other than those
that are used (or held for use) directly in carrying out the foundation’s exempt purposes, over
b. Acquisition indebtedness with respect to such assets (determined under
Section 514(c)(1) without regard to the taxable year in which the indebtedness was incurred).
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