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Unformatted text preview: able Contributions
Qualifying organizations, a.k.a. “public charities” may be
classified into two types. Each is treated differently for
One type is also called “public charities.” Examples are:
x Government units x Tax-exempt hospitals &
Tax-exempt medical organizations
x Religious organizations
x Private operating
foundations that distribute
x Tax-exempt educational
at least 85% of their
income to further their
exempt purpose annually
33 Charitable Contributions
A second type of qualifying charity consists of:
x Private, non-operating foundations (private foundations
Private, that do not distribute at least 85% of their contributions
to further their exempt purpose, each year).
x Organizations of war veterans
x Nonprofit cemetery companies or associations
x Certain fraternal organizations 34 Charitable Contributions
VALUATION OF CONTRIBUTIONS
Type of Charity
Type of Proper...
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This note was uploaded on 06/06/2011 for the course ACE 346 taught by Professor Peter during the Spring '11 term at University of Illinois, Urbana Champaign.
- Spring '11