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New Schedule A Reflects Change in Public Support Rules

New Schedule A Reflects Change in Public Support Rules

New Schedule A Reflects Change in Public Support Rules

Test is now based on five-year rolling average and reporting is on same basis as other accounting

The new Schedule A required for the Form 990 tax information return reflects the change in method of calculating “public support” for a charitable organization that seeks classification as a public charity rather than a private foundation.

A 501(c)(3) organization that is neither a hospital, a church, or an educational institution (or certain related entities) or a supporting organization to a public charity avoids being a private foundation by satisfying a “public support” test in generating its revenue from a wide variety of sources…

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