How Can an Exempt Organization Otherwise Classified as a Private

question 15

Essay

How can an exempt organization otherwise classified as a private foundation become a public charity?

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Definitions:

Semiannual Deposits

Semiannual deposits refer to money deposits made twice a year into a financial account or investment.

Compound Interest

Interest that is computed on both the initial principal amount and the interest that has been added to that principal from past periods of a deposit or loan.

Annual Rate

The interest rate for a period of one year, often used to compare the annual interest between different investments or loans.

Equal Annual Amounts

A term generally used in loan repayments or amortization schedules where payments are made in consistent amounts over the term of the loan.