The private foundation status of an exempt organization will terminate if it a. Becomes a public charity. b. Is a foreign corporation. c. Does not distribute all of its net assets to one or more public charities. d. Is governed by a character that limits the organizations exempt purposes. Which of the following exempt organizations must file annual information returns? a. Churches. b. Internally supported auxiliaries of churches. c. Private foundations. d. Those with gross receipts of less than exist5,000 in each taxable year. An organization that operates for the prevention of cruelty to animals will fair to meet the operational test to quality as an exempt organization if