To be classified as a private foundation, the exempt status of an organization can be provided under either § 501(c) (1) or § 501(c)(3).

Name: To be classified as a private foundation, the exempt status of an organization can be provided under either § 501(c) (1) or § 501(c)(3).
Brand: Quizplus
Rating: 4.7 (32 reviews)

Question

Quizplus · Accepted Answer

To be classified as a private foundation, the exempt status of an organization can only be provided under § 501(c)(3). Section 501(c)(1) pertains to organizations that are exempt as a federal credit union.

To Be Classified as a Private Foundation, the Exempt Status