An organization that receives more than two-thirds of its support from a combination of contributions, membership fees, and gross receipts from exempt and no more than one-third of its support from a combination of investment income and net unrelated income after taxes is a public charity.

Question

Quizplus · Accepted Answer

A public charity is defined as 1) a chuch, school, hospital, governmental unit or publicly supported charity, 2) an organization that receives more than one-third of its support form a combination of contributions, membership fees, and gross receipts from exempt activities and no more than one-third of its support from a combination of investment income and net unrelated business income after taxes, 3) an organization operated exclusively for the benefit of organizations already described, or 4) an organization founded and operated exclusively for public safety.

An Organization That Receives More Than Two-Thirds of Its Support