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Please help me in these questions please please please. I want brief answers please help me out Which of the many IRS publications that relate

Please help me in these questions please please please. I want brief answers please help me out

  1. Which of the many IRS publications that relate to tax-exempt organizations provides a description about each of the tax-exempt categories that a nonprofit organization can apply to be exempt under? List three of the other publications that relate to tax-exempt entities.
  2. Feed the Hungry Children, a (fictitious) not-for-profit tax-exempt entity under IRC Sec. 501(c)3, has been in operation for six years. The mission of the group is to provide healthy breakfast meals to children in inner city schools, so they can best learn. A wealthy local philanthropist has been meeting with the organization hoping to change the direction of the organization in return for a $1,000,000 permanent endowment donated to the group. While these negotiations were taking place this year, the organization suspended its normal operations. The draft of the Form 990 for this fiscal year shows 0 revenues and 0 expenses for this fiscal year and penciled in is a $1,000,000 gift from the philanthropist. The treasurer of the Board is drafting the Schedule A for the Form 990 in preparation for reporting to the Board whether the organization's status has changed form a public charity to a private foundation. Go to the www.irs.gov website and obtain Form 990, Schedule A. In your own words, construct an argument to support why this tax-exempt entity is still a public charity.
  3. Locate the most recent Form 990 for the American Cancer Society at www.cancer.org. The link is right below the link to the F/S. Under which section of the Internal Revenue Code (IRC) is the American Cancer Society tax-exempt? See the top of Form 990, page 1. What is the compensation of the highest paid officer (see Part VII of the Form 990)? Which schedules did the organization complete (e.g., A, B, ... R) Note: Schedules start right after the twelve parts (roman numerals) of the core Form 990.
  4. Is the cost of goods sold incurred by a not-for-profit, tax-exempt organization in regularly conducting an unrelated business allowable as a deduction in calculating unrelated business income tax (UBIT)? Go to the www.irs.gov website, look in Charities & Nonprofits, Annual Reporting and Filings, Form 990-T instructions. In your own words, generally how is UBIT calculated?

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