Which of the following statements is correct?

a. A feeder organization is a division of a tax-exempt organization and it is not subject to the Federal income tax.

b. A feeder organization is a tax-exempt organization whose purpose is to provide food to underprivileged children.

c. The activities of the feeder organization make the parent organization subject to tax.

d. A feeder organization carries on a trade or business and remits its profits to the exempt organization.