To satisfy the "not-for-profit" requirement for exempt status, the entity may not be engaged in a trade or business.

Name: To satisfy the "not-for-profit" requirement for exempt status, the entity may not be engaged in a trade or business.
Brand: Quizplus
Rating: 4.9 (20 reviews)

Question

Quizplus · Accepted Answer

A not-for-profit entity can engage in trade or business activities as long as those activities are related to its exempt purposes and the profits are not distributed to private shareholders or individuals.

To Satisfy the "Not-For-Profit" Requirement for Exempt Status, the Entity