Unless the "Widely Available" Provision Is Satisfied, a § 501(c)(3)

question 59

True/False

Unless the "widely available" provision is satisfied, a § 501(c)(3) exempt organization (excluding churches and private foundations) must make copies of the following available to the general public: Form 990 (Return of Organization Exempt from Income Tax) and Form 1023 [Application for Recognition of Exemption under § 501(c)(3)] or Form 1024 [Application for Recognition of Exemption under § 501(a)].

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Definitions:

Government Welfare

A system of financial aid and other services provided by the government to those in need, including the unemployed, elderly, and disabled.

Health Benefits

Advantages or positive effects on one's health, often associated with certain activities, diets, or healthcare plans.

Income Inequality

The unequal distribution of income among the population of a region, leading to disparities in living standards and economic opportunities.

Western Industrialized Nation

Countries typically located in the Western hemisphere that are characterized by a high level of industrialization, technology, and economic development.