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The Race Foundation holds an annual marathon to collect funds for patients with severe lung disease at a hospital. The Foundation is a tax-exempt public
The Race Foundation holds an annual marathon to collect funds for patients with severe lung disease at a hospital. The Foundation is a tax-exempt public charity. If more than 400 runners participate in the race, the bank has pledged to donate $10,000. In exchange, the foundation will print the bank's logo on all of the shirts they distribute. Will the bank's donations are taxable to the organization?
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