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 $ 10,200 Grant

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 $ 10,200
Grant from the state 25,100
Grant from the city 10,100
Contributions from individuals 261,200
Investment income 1,200
Revenue from the sale of books 12,100
$ 319,900

Of the $261,200 received from contributors, $240,300 came from four contributors, each of whom gave $60,075; the other $20,900 came from small individual contributions.

Required

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

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