Tax Exempt Organizations

Question 1

Taxation of UBI

Answer 1

No taxation on first $1000

Question 2

Private Foundations

Answer 2

the following four distinct categorizations are not private foundations:

• max 50 percent deduction donees
• broadly publicly supported organizations
• supporting organizations
• public safety organizations

Question 3

Unrelated Business Income

Answer 3

UBI is:
derived from an activity that constitutes a trade or business
regularly carried on
and is not substantially related to the organizations tax exempt purpose