Contributors to the organization do not have advance assurance of deductibility while the organization's application is pending. If the organization ultimately qualifies for exemption for the period in which the contribution is made, the contribution will be tax...

Even though an organization is recognized as tax exempt, it still may be liable for tax on its unrelated business income. For most organizations, unrelated business income is income from a trade or business, regularly carried on, that is not substantially related to...