1. Which of the following entity types cannot NOT become a 501(c)(3)?
a. A Delaware LLC
b. A Partnership
c. An Illinois Corporation
d. A Charitable Trust
2. Which of the following is most likely true about an Unincorporated Association
that was a 501(c)(3)?
a. It was formed by filing its Charter with the applicable Secretary of State
b. It will be taxed like a partnership
c. It cannot qualify as a public charity
d. Its actors have more exposure for potential personal liability (as compared to
actors of a corporate entity)
3. Which of the following entity types is LEAST likely to be required to submit
organizational documents with its Secretary of State?
a. A Trust
b. An LLC
c. A Corporation
d. Each of the above entity types is typically required to submit its organizational
documents with its Secretary of State