To Qualify for Tax-Exempt Status, an Organization Must Do All

question 41

Multiple Choice

To qualify for tax-exempt status, an organization must do all of the following except:

• A) Have an Employer's Identification Number.
• B) Be organized as a corporation, trust, or association.
• C) Complete IRS form 1023.
• D) Receive most of its income from contributions rather than by providing goods or services.

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Definitions:

Corporate Social Responsibility

A business model where companies integrate social and environmental concerns in their operations and interaction with stakeholders.

Proactive

Taking initiative and action to anticipate and prevent potential problems or to capitalize on opportunities ahead of time.

Reactive

Responding to events or situations rather than initiating or preventing them.

Ethical Conduct

Ethical conduct involves behavior that adheres to accepted standards of integrity, honesty, and fairness in professional and personal actions.