Entities That Are Tax-Exempt Under IRS Section 501c3 Are Prohibited

question 85

True/False

Entities that are tax-exempt under IRS Section 501c3 are prohibited from having surpluses revenues exceed expenses.

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Definitions:

Individual Achievement

Personal success or accomplishment attained through one's own skills, effort, or qualities, often in educational or professional contexts.

American Indian

Members or descendants of indigenous peoples of the territories that are now the United States, recognized as sovereign nations within the country.

Alaskan Native

Indigenous peoples from Alaska including various Eskimo (Inuit and Yupik), Aleut, and Native American tribes.

Grandparents

The parents of one's parents, serving as a source of wisdom, tradition, and family heritage.