Public benefit entity definition

Public benefit entity means an entity that is recognized as exempt from federal income taxation under section 501(c)(3) of the Internal Revenue Code or is organized for a public or charitable purpose and that upon dissolution must distribute its assets to a public benefit entity, the United States, a state or any political subdivision of a state, or a person that is recognized as exempt from federal income taxation under section 501(c)(3) of the Internal Revenue Code. "Public benefit entity" does not include an entity that is organized by one or more municipal corporations to further a public purpose that is not a charitable purpose.
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Examples of Public benefit entity in a sentence

  • Public benefit entity The charitable company meets the definition of a public benefit entity under FRS 102.

  • Public benefit entity The charity meets the definition of a public benefit entity under FRS 102.

  • The Board constitutes a Public benefit entity as defined by FRS102.

  • Elim Housing Association is a Public benefit entity, as defined in FRS102 and appliers the relevant paragraph prefixed ‘PBE’ in FRS 102.

  • Public benefit entity The charitable company meets the definition of a public benefit entity under FRS 102.d)Going concern The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a goingconcern.

  • Public benefit entity concessionary loans – can measure at the amount paid or received.10There are a number of examples in the Appendix to Factsheet 4 which are identical to those provided by SEN 16 covering interest free loans between a parent and a subsidiary, between fellow subsidiaries and between entities owned by the same person.

  • Therefore, the FCS Lead System Integrator (LSI), namely, the Boeing and SAIC companies and their subcontractors are also represented in the work group.Each of these entities has identified a need for autonomy level definitions.

  • Public benefit entity reporting in the UK generally applies FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland is based on IFRS for SMEs. FRS 102 does not provide specific requirements for accounting for perpetual endowments.

  • Public benefit entity Both Ambitious about Autism and Ambitious about Autism School Trust meet the definition of a public benefit entity under FRS 102.

  • Customer agrees that CUA’s damages will be difficult to ascertain if termination occurs and that the Termination Payment establishes liquidated damages and is not a penalty.

Related to Public benefit entity

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Seller Benefit Plan means each Employee Benefit Plan that is sponsored, maintained or contributed to or required to be contributed to by Seller or any of its Affiliates, or with respect to which Seller or any of its Affiliates may have any Liability, and in which one or more Business Employees participates.

  • Company Benefit Plan has the meaning specified in Section 4.13(a).

  • Nonprofit entity means any entity organized and operated exclusively for charitable purposes, or operated by the Federal Government, the State, or any political subdivision of the State.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Foreign Benefit Plan means any Employee Benefit Plan established, maintained or contributed to outside of the United States of America or which covers any employee working or residing outside of the United States.

  • Public employer means the State of Oregon, and the following political subdivisions:

  • Company Benefit Plans has the meaning set forth in Section 3.16(a).

  • Company Employee Benefit Plan means each Employee Benefit Plan that is maintained, sponsored or contributed to (or required to be contributed to) by any of the Group Companies or under or with respect to which any of the Group Companies has any Liability.

  • Pharmacy benefit manager means a person, business or other

  • Company Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written or unwritten or otherwise, funded or unfunded, including without limitation, each "employee benefit plan," within the meaning of Section 3(3) of ERISA which is or has been maintained, contributed to, or required to be contributed to, by the Company or any Affiliate for the benefit of any Employee, or with respect to which the Company or any Affiliate has or may have any liability or obligation;

  • Continuing care retirement community means a residential

  • Defined Benefit Plan means each Benefit Plan which is subject to Part 3 of Title I of ERISA, Section 412 of the Code or Title IV of ERISA.