Article Archives >> Ready Reference >> October 1999
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Calculating Public Support Percentage - Part I and II
Section 501(c)(3) charities are divided between private foundations and public charities; Section 509(a) sets the rules for qualification as publicly supported
Section 509(a)(1) limits portion of gifts counting as public support; Section 509(a)(2) excludes gifts from disqualified persons
Excerpt:
Charities, especially newly created ones, are frequently confused about their classification under Sections 501(c)(3) and 509 of the Tax Code. It's not surprising. The rules are some of the most technical and confusing of all the tax rules affecting charities....
Article Archives >> Ready Reference >> October 1999
