March 20, 2008
Tax Agency Examines Charities' Business Activities
A new study by the Internal Revenue Service shows that much of the money charities earn from business activities comes from selling products, services, and advertising. Charities in 2004 reported that 74 percent of their $5.5-billion in total business income not related to their charitable missions stemmed from their profits on those three types of pursuits.
Nearly 17 percent of the total "unrelated-business income" stemmed from capital-gain net income, partnership and S-corporation
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