Carita Fund, organized and operated exclusively for charitable purposes, provides insurance coverage, at amounts substantially below cost,
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purposes, provides insurance coverage, at amounts substantially
below cost, to exempt organizations involved in the prevention
of cruelty to children. Carita’s insurance activities are
Exempt from tax.
Treated as unrelated business income.
Subject to the same tax provisions as those applicable
to insurance companies.
Considered ’commercial-type’ as defined by the Internal
Revenue Code.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: