The following are key terms in Chapter 14 that relate to regulatory and taxation issues of not-for-profit organizations:
A.Unrelated business income
B.Public charity
C.Charitable solicitation
D.Lobbying
E.Debt financed income
F.Private foundation
G.Propaganda
For each of the following definitions,indicate the key term from the list above that best matches by placing the appropriate letter in the blank space next to the definition.
_____1.A not-for-profit exempt under IRC Sec.501(c)(3)that receives most of its support from a small number of donors or investment income than it does from the public at large.
_____ 2.A direct request for credit or financial assistance that will be used for the 501(c)(3)'s mission.
_____ 3.Information that is skewed toward a particular belief with little basis in fact.
_____ 4.Gross income from a trade or business regularly carried on by a tax-exempt organization.
_____ 5.Contacting elected officials to encourage specific legislative action.
Correct Answer:
Verified
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