Which of the Following Is Not True About Not-For-Profit Corporations

Multiple Choice

Which of the following is not true about not-for-profit corporations:

A) formed to serve some public purpose rather than financial gain
B) exempt from paying income taxes if its purpose is religious,educational, scientific or literary and its revenues are less than $1 million
C) those who contribute to not-for-profit corporations can take a tax deduction
D) there are more than 1.5 million not-for-profit organizations in the U.S.