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§ 376.309(3) (West 2023). The predictable, commonplace voting rights which Mr. Pascucci possessed are starkly different from the level of control over voting that the taxpayer exercised in Webber, 144 T.C. at 364–65. The insurance investment managers in Webber “took no action without a sign-off from [the taxpayer].” Id. Mr. Pascucci has provided no

The proscription against private benefit corresponds to a similar proscription in the law of charitable trusts. “A trust is not a charitable trust if the property or the income therefrom is to be devoted to a private use.” 2 Restatement, Trusts 2d, sec. 376 (1959). An organization’s property may be impermissibly devoted to a private use where private interests have control, directly or indirectly, over its assets, and thereby secure nonincidental private benefits. For instance, in est of Hawaii