Form St 04-20 - Recommendation For Disposition Page 3
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124.
ABC’s Form 990, “Return of Organization Exempt From Income Tax,”
for year 2002 shows total revenue of $14,913,428, total expenses of
$12,670,967 and an excess of revenue over expenses of $2,242,461. Of the total
revenue, $14,829,860 (over 99%) is composed of “fees for providing blood
related services,”
$18,510 (less than 1%) is composed of “government
contributions (grants).” Tr. pp. 8, 63; Dept. Ex. No. 2.
5.
ABC’s Articles of Incorporation, filed under the Pennsylvania Nonprofit
Corporation Law of 1988, state, inter alia, that ABC’s purpose is to “establish,
develop, sponsor, promote and/or conduct educational programs, laboratory
research, and therapeutic services, treatment facilities, human services programs
and other charitable activities devoted to improving and protecting the health
and welfare of all persons, including providing opportunities to aid persons
suffering from physical disabilities, providing access to community resources
aimed at promoting life and health, and providing assistance to persons with the
aim of leading full and meaningful lives.” Tr. p. 10; Applicant’s Ex. No. 1.
6.
ABC’s Bylaws state that the Corporation shall have “one member with
full voting rights, which shall be The Institute for Transfusion Medicine …”. If
ABC
were dissolved, its assets would be transferred to the Institute for
Transfusion Medicine if it remains a not-for-profit entity. Tr. pp. 11, 15, 56-57;
Applicant’s Ex. Nos. 2 and 7.
7.
ABC is exempt from federal income taxes “under Section 501(a) of the
Internal Revenue Code as an organization described in Section 501(c)(3).” Tr.
pp. 11-12, 55; Taxpayer’s Ex. No. 3.
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