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Form 990: Classifying a School That Hasn’t Opened Yet: Obtaining IRS Approval and What Happens If the IRS Disagrees
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CPA Practice Advisor
School status under I.R.C.
Summary:Pre-Operational Public Charity Status : Non-profit schools can secure public charity status under I.R.C.
A school does not have to establish broad public support to avoid private foundation status.
And this “public support” issue for these organizations is indefinitely – not just for the first five years of activity.
To qualify and remain exempt, a private school must adopt a racially nondiscriminatory policy as to students, publicize it, and operate consistently with it.