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Calculate the total amount of support

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Question - The Let's Read organization is a public charity under IRC Sec. 501(c)(3). It had total support of the following:

United Way support $11,400 Grant from the state 26,000 Grant from the city 11,200 Contributions from individuals 262,400 Investment income 2,400 Revenue from the sale of books 9,000 $322,400

Of the $262,400 received from contributors, $241,300 came from four contributors, each of whom gave $60,325; the other $21,100 came from small individual contributions.

Required - Calculate the total amount of support that qualifies as "public support" in meeting the public support test to escape private foundation status.

Reference no: EM132517090

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