TY 2012 IRS 990 e-File Render
Name:
Commonweal Foundation Inc
EIN: 23-7000192
Explanation:
In August 2011, the Foundation received a contribution of 3,000,000 shares representing over 5% of Choice Hotels International (CHH or Company), a public company traded on the New York Stock Exchange. The donors are affiliates of CHH and they and their descendants own 47% of the Company. Further, the Chairman of the Board of the Foundation and two Directors are affiliates of CHH by virtue of their ownership and one of the other Foundation Directors is an affiliate by virtue of being a CHH Director. Given these relationships and the size of the position that the Foundation owns in CHH, the Foundation has been treated as an affiliate and, thus, it is subject to Securities and Exchange Commission (SEC) restrictions on the timing and manner of selling its CHH stock including SEC Rule 144. (See Statement 26 for additional explanation.)