An educational organization such as Williams College that is exempt under § 501(c)(3) cannot be classified as a private foundation if its only sources of revenue are from tuition and alumni contributions.
Answer the following statement true (T) or false (F)
False
Rationale: An educational organization that is exempt under § 501(c)(3) never is classified as a private foundation. Its exemption is traced to its identity as an educational body.
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