The Planned Giving Design Center has released a message detailing a recent, private ruling by the Internal Revenue Service that, according to the Center, declares:
"that a public charity's receipt of commissions in connection with a real estate leasing activity will not be considered unrelated business income because the activity is not regularly carried on by the organization."
The original release includes the full text of the IRS Letter Ruling.
The The Planned Giving and Design Center is a national network of websites dedicated to advancing philanthropy through education via the Internet.
Posted by Joshua Hock, Associate Editor, Wealth Strategies Journal
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