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

  • 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 concessionary loansThe development loans to Leeds Jewish Housing Association are to fund the purchase of properties owned by the Association.

  • Public benefit entity concessionary loans are loans made or received between a public benefit entity or an entity within the public benefit entity group, and another party at below the prevailing market rate of interest that are not repayable on demand and are for the purpose of furthering the objectives of the public benefit entity or public benefit entity parent.The group and company have elected to account for such loans in accordance with Section 34.90 – 34.97 of FRS 102.

  • Public benefit entity concessionary loans are loans made or received between a public benefit entity or an entity within the public benefit entity group, and another party at below the prevailing market rate of interest that are not repayable on demand and are for the purposes of furthering the objectives of the public benefit entity or public benefit entity parent.

  • A Public benefit entity provides goods or services for the general public, community or social benefit and where any equity is provided, it is to support the entity’s primary objectives rather than with a view to providing a financial return to equity providers, shareholders or members.

  • The stock is held as part of the Traidcraft trading activities.2h Public benefit entity concessionary loansInterest free loans from church members towards the public benefit of the new Easter Centre are accounted for as concessionaryloans under FRS 102.

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

  • Public benefit entity loans are loans made or received by a public benefit entity or a member of a public entity group at an interest rate below that prevailing in the market.

  • Public benefit entity concessionary loans are loans made or received between a public benefit entity or an entity within the public benefit entity group, and another party at below the prevailing market rate of interest that are not repayable on demand and are for the purpose of furthering the objectives of the public benefit entity or public benefit entity parent.

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.

  • 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.

  • Pharmacy benefit manager means a person, business or other

  • Continuing care retirement community means a residential