The Let's Read organization is a public charity under IRC Sec. 501(c)(3). It had total support...

Question

Question

The Lets Read organization is a public charity under IRC Sec. 501(c)(3). It had total support of the following: United Way s

b. Is the organization considered a public charity? Yes . No C-1. If the organization had received $192.000 from one individu

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Req. a
Grant from State	$ 23,200
United Way Support	$ 8,600
Grant from the City	$ 8,300
Contributions:
Small Contributions	$ 21,100
Large Contributions	$ 24,968
Public Support	$ 86,168

Large Contributions = (312,100 * 2% * 4) = $24,968

Req. B
No
= 86168/312100 = 27.6%

Req. c1
Grant from State	$ 23,200
United Way Support	$ 8,600
Grant from the City	$ 8,300
Contributions:
Small Contributions	$ 67,200
Large Contributions	$ 6,242
Public Support	$ 113,542

Large Contributions = 3121002%1 = $6,242

Add a comment

Answer 2

Similar Homework Help Questions

The Let's Read organization is a public charity under IRC Sec. 501(c)(3). It had total support...

The Let's Read organization is a public charity under IRC Sec. 501(c)(3). It had total support of the following: United Way support $ 10,200 Grant from the state 25,100 Grant from the city 10,100 Contributions from individuals 261,200 Investment income 1,200 Revenue from the sale of books 12,100 $ 319,900 Of the $261,200 received from contributors, $240,300 came from four contributors, each of whom gave $60,075; the other $20,900 came from small individual contributions. c-1. If the organization had received...
Background: The Neil Peart Foundation is a private charitable organization classified as a 501(c)(3). The foundation...

Background: The Neil Peart Foundation is a private charitable organization classified as a 501(c)(3). The foundation was created in 1956 when billionaire insurance mogul, Neil Peart, passed away. His will required the formation of the foundation and a substantial portion of his net wealth created the foundation’s endowment fund. The foundation’s purpose is to make grants to qualified community non-profit organizations so they may carry out programs in four main areas: public health, education, arts and culture, and environmental. The...
write a summary after that answer the questions CASE 3.3 United Way of America In 1887,...

write a summary after that answer the questions CASE 3.3 United Way of America In 1887, several of Denver's community and religious leaders established the Charity Organization Society. During its first year of operation, the organization raised a little more than $20,000, which it then distributed to several local charities. The charity-of-charities fundraising concept spread across the United States over the fol- lowing decades. After several name changes, the original Denver-based organization adopted the name United Way in 1963. United...

Read the case study below and answer the following four questions: Sheikh Zayed bin Sultan Al Nahyan, Founder of the U...

Read the case study below and answer the following four questions: Sheikh Zayed bin Sultan Al Nahyan, Founder of the UAE. His Highness Sheikh Zayed bin Sultan Al Nahyan served as President of the United Arab Emirates since the formation of the Federation on 2 December 1971 and as Ruler of the Emirate of Abu Dhabi since 1966. Understanding the UAE is impossible without understanding the life of Sheikh Zayed and his deep religious faith, vision, determination and hard work;...
Playgrounds and Performance: Results Management at KaBOOM! (A) We do this work because we want to...

Playgrounds and Performance: Results Management at KaBOOM! (A) We do this work because we want to make a difference in the world; how can we go further faster? - Darell Hammond, CEO and co-founder, KaBOOM! Darell Hammond stepped onto the elementary school playground and took a long, slow look around. It was 8 a.m. on an unusually warm fall day in 2002 and the playground was deserted, but Hammond knew the children would start arriving soon to admire their new...
Read the articles provided (Riggio, 2008) and Javidan & Walker (2012). Perform a self-assessm...

Read the articles provided (Riggio, 2008) and Javidan & Walker (2012). Perform a self-assessment of the global mindset competencies. What competencies do you feel are your strengths? Your areas for improvement? What next learning steps could you take to address your areas for improvement? LEADERSHIP DEVELOPMENT: THE CURRENT STATE AND FUTURE EXPECTATIONS Ronald E. Riggio Claremont McKenna College This article discusses the common themes in this special issue of Consulting Psychology Journal on "Leadership Development" and summarizes some of the...

Please read the article and answer about questions. You and the Law Business and law are...

Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...
TRUE OR FALSE/ MULTIPLE CHOICE and word response questions. C. a more permanent government involvement in the ba...

TRUE OR FALSE/ MULTIPLE CHOICE and word response questions. C. a more permanent government involvement in the banking system, even creating a pational banking system that owns and operates most of the global and regional banks. Deshort-term increases in government spending to stimulate the economy. 20. When describing the state of the U.S. economy, reporters often refer to the nation's GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant....
And there was a buy-sell arrangement which laid out the conditions under which either shareholder could...

And there was a buy-sell arrangement which laid out the conditions under which either shareholder could buy out the other. Paul knew that this offer would strengthen his financial picture…but did he really want a partner?It was going to be a long night. read the case study above and answer this question what would you do if you were Paul with regards to financing, and why? ntroductloh Paul McTaggart sat at his desk. Behind him, the computer screen flickered with...

Read the Article posted below, then answer the following questions: Mergers & acquisitions are a major...

Read the Article posted below, then answer the following questions: Mergers & acquisitions are a major form of corporate diversification strategy, identify and discuss the top three reasons why most (50-60%) of acquisitions fail to create shareholder value. What are the five major components of “CEMEX Way” and why has this approach been so successful in post-acquisition integration? In your opinion, what can other companies learn from the “CEMEX Way” as a benchmark for acquisition management? Article: CEMEX: Globalization "The...

The Let's Read organization is a public charity under IRC Sec. 501(c)(3). It had total support...

Homework Answers