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thank you, come again!
Froogle 1.1.1.7
Froogled By:
Elias Makere, FSA, MAAA
Last Froogled:

CHARITY

a nonprofit institution organized and operated exclusively for
(1) religious;

(2) charitable;

(3) scientific;

(4) literary;

(5) education; or

(6) similar purposes
whose income is exempt from federal income tax. Contributions to such organizations are allowable – with limitations – as a seduction in calculating TAXABLE INCOME.
PUBLIC CHARITY
a charity that – under certain tests – is deemed to receive the major portion of its support from the public (rather than from a small group of individuals)
PRIVATE FOUNDATION
organizations that – although charities – are deemed to receive a substantial portion of their support from non-public sources (eg from small groups of individuals). A private foundation is subject to additional restrictions on its activities and its financial dealings (including income accumulation).
Congratulations! You're now Froogled Up™ on what "Charity" means!

Feel free to use it throughout your financial/insurance life.

Sincerely,



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