Which of the following statements is true with respect to tax-exempt organizations?

An individual can qualify as an organization exempt from federal income tax.

A foundation may qualify for exemption from federal income tax if it is organized for the prevention of cruelty to animals.

In order to qualify as an exempt organization, the organization must be a corporation.

A partnership may qualify as an organization exempt from federal income tax if it is organized and operated exclusively for one or more of the purposes found in Sec. 501(c)(3).