FULLY FALTUZ

Wednesday, July 6, 2011

Labels: Hot

Labels: Hot

Labels: Wired Stuff

Khanam Seema: A charity must operate exclusively to further the charity’s exempt purposes. A charity must not operate a car donation program in a manner that improperly benefits private parties. For example, a charity should not sell cars on favorable terms to individuals such as board members. Fees the charity pays an agent to operate the program must not exceed a reasonable amount. Activities such as these may have adverse tax consequences for both the charity and related parties