Attribution of stock ownership

[cathyw]

A client of mine is a corporation with several family members as stockholders, as well as a family foundation being a stockholder.  Is there any attribution of stock ownership from the foundation to family members who are directors of the foundation?  I know there is attribution with a trust or estate, but I can’t find any information regarding a foundation.  This would be for purposes of determining 5% owners for top heavy, etc.

 

Thanks.

[Belgarath]

I don't have time to do any research on this, but for anyone like me who knows nothing about family foundations, this article is quite informative.

http://www.americanbar.org/newsletter/publications/law_trends_news_practice_area_e_newsletter_home/familyfoundation.html