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 $ 10,000 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 $ 10,000
Grant from the state 25,000
Grant from the city 10,000
Contributions from individuals 261,000
Investment income 1,000
Revenue from the sale of books 12,000
$ 319,000

Of the $261,000 received from contributors, $240,000 came from four contributors, each of whom gave $60,000; the other $21,000 came from small individual contributions.

Required
a.

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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