R3 M7 - Tax Exempt Organization Overview

Question 1

• 501 (c) (3) private foundation makes grants to other charitable organizations and individuals rather than directly operating charitable programs
• The private foundation receives private donation from single major source and corporation rather than public support from government unit and general public.

Question 2

List of tax-exempt organizations:

Answer 2

• Labor, agricultural, horticulture
• Civic leagues and Social Welfare organizations
• Veterans’ organizations
• Organization that hold title to an exempt organization’s property
• Cemetry organizations
• Mutual Insurance

Question 3