The University Foundation is a legally separate, tax-exempt 501c3 entity organized for the purpose of raising funds to provide scholarships only to academically qualified students at State University.Members of the board of the University Foundation are elected by the existing Board of Trustees.The Foundation provides scholarships to students of State University, but the Foundation receives no financial support from the University.The Foundation would be considered an
A)Primary government.
B)Component unit.
C)Related organization.
D)Affiliated organization.

Question

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The Answer of The University Foundation is a legally separate, tax-exempt 501c3 entity organized for the purpose of raising funds to provide scholarships only to academically qualified students at State University.Members of the board of the University Foundation are elected by the existing Board of Trustees.The Foundation provides scholarships to students of State University, but the Foundation receives no financial support from the University.The Foundation would be considered an
A)Primary government.
B)Component unit.
C)Related organization.
D)Affiliated organization.

The University Foundation Is a Legally Separate, Tax-Exempt 501c3 Entity