The key factors in determining whether an exempt entity's income from a bingo game is unrelated trade or business income are whether substantially all the work is performed by volunteers and all of the prizes to be awarded are received as donations.

Question

Quizplus · Accepted Answer

The key factors are whether the bingo game is legal where it is conducted and whether it is regularly carried on, not the involvement of volunteers or donated prizes.

The Key Factors in Determining Whether an Exempt Entity's Income