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Exercise 13-19 (Algo) Public Charity [LO 13-3] The Let's Read organization is a public charity under IRC section 501(c)(3). It had total support of
Exercise 13-19 (Algo) Public Charity [LO 13-3] The Let's Read organization is a public charity under IRC section 501(c)(3). It had total support of the following: United Way support Grant from the state Grant from the city Contributions from individuals Investment income Revenue from the sale of books $ 11,100 25,900 11,100 262,300 2,300 9,200 $321,900 Of the $262,300 received from individuals, $241,100 came from four contributors, each of whom gave $60,275; the other $21,200 came from small individual contributions. Required a. Calculate the total amount of support that qualifies as "public support" in meeting the public support test to escape private foundation status. Contributions: Amount Public Support $ 0
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