Exempt Function Income of Political Organizations |
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The exempt function income of a political organization is income the organization sets aside for use for its exempt function that was received as one of the following four types of income: (1) a contribution of money or other property; (2) membership dues, fees, or assessments from a member of the political organization; (3) proceeds from a political fundraising or entertainment event or from the sale of political campaign materials, which are not received in the ordinary course of any trade or business; or (4) proceeds from conducting bingo games that are defined in Code § 513(f)(2).
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Page Last Reviewed or Updated: December 23, 2008