To Be Classified as a Private Foundation, the Exempt Status

question 87

True/False

To be classified as a private foundation, the exempt status of an organization can be provided under either § 501(c) (1) or § 501(c)(3).

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Definitions:

Human Welfare

The general health, happiness, and safety of individuals and communities.

Office Gang

A group of colleagues who often collaborate or socialize together within a workplace.

Affiliation

A connection or association with a larger organization, group, or movement.

Unrealistic Goals

Objectives that are not feasible or practical to achieve due to their excessive or overly ambitious nature.