Question
Which of the following is identified as a 501(c)(3)?
(1 point)
Responses
a private school
a private school
a company that donates its profits but has unrelated business income
a company that donates its profits but has unrelated business income
a lobbying firm
a lobbying firm
a private foundation
(1 point)
Responses
a private school
a private school
a company that donates its profits but has unrelated business income
a company that donates its profits but has unrelated business income
a lobbying firm
a lobbying firm
a private foundation
Answers
GPT-4o mini
The correct response is:
**a private foundation**
A 501(c)(3) organization is a type of nonprofit organization that is exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code. Private foundations, as well as charitable organizations, fall under this category.
**a private foundation**
A 501(c)(3) organization is a type of nonprofit organization that is exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code. Private foundations, as well as charitable organizations, fall under this category.