The Following Are Key Terms in Chapter 14 That Relate

question 31

Short Answer

The following are key terms in Chapter 14 that relate to regulatory and taxation issues of not-for-profit organizations:
A.Unrelated business income
B.Public charity
C.Charitable solicitation
D.Lobbying
E.Debt financed income
F.Private foundation
G.Propaganda
For each of the following definitions,indicate the key term from the list above that best matches by placing the appropriate letter in the blank space next to the definition.
_____1.A not-for-profit exempt under IRC Sec.501(c)(3)that receives most of its support from a small number of donors or investment income than it does from the public at large.
_____ 2.A direct request for credit or financial assistance that will be used for the 501(c)(3)'s mission.
_____ 3.Information that is skewed toward a particular belief with little basis in fact.
_____ 4.Gross income from a trade or business regularly carried on by a tax-exempt organization.
_____ 5.Contacting elected officials to encourage specific legislative action.

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Definitions:

Financial Management

The practice of planning, directing, controlling, and managing an organization's financial activities, such as procurement and utilization of funds.

Clustering

The task of grouping a set of objects in such a way that objects in the same group (called a cluster) are more similar to each other than to those in other groups.

Associations

Groups or organizations formed by people who share common interests, goals, or purposes.

Brainstorming

Brainstorming is a creative group problem-solving and idea-generating technique aiming to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its members.