Nonprofit ventures carry the designation as tax-exempt nonprofits that must originally meet and continue to maintain their status by being in conformance with the requirements of Section 501(c) (3) and the Treasury Regulations. Explain what is meant by conforming to the "organizational test" and the "operational test."

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The Answer of Nonprofit ventures carry the designation as tax-exempt nonprofits that must originally meet and continue to maintain their status by being in conformance with the requirements of Section 501(c) (3) and the Treasury Regulations. Explain what is meant by conforming to the "organizational test" and the "operational test."

Nonprofit Ventures Carry the Designation as Tax-Exempt Nonprofits That Must