The Minimum Annual Distributions Must Be Made Over the Life

question 87

True/False

The minimum annual distributions must be made over the life of the participant or the life of the participant and a designated individual beneficiary.

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Definitions:

Program Services Expenses

Costs directly related to the operational activities of a nonprofit organization, including expenses for its principal services offered to the community.

Supporting Services Expenses

Costs incurred by an organization, particularly in the nonprofit sector, that are necessary to support its main operational activities, including management, administrative, and fundraising expenses.

Statement of Activities

A financial report primarily used by non-profits, showing revenue and expenses over a period to reflect changes in net assets.

With Donor Restrictions

Refers to contributions received by a nonprofit organization that are subject to specific limitations or conditions set by donors.