EXEMPT ORGANIZATIONS

Rev. Proc. 2003–21, page 448. This procedure allows for relief for certain exempt organizations (other than private foundations) organized in U.S. possessions from the requirement of filing an annual information return on Form 990, Return of Organization Exempt From Income Tax . The procedure applies to U.S. possession organizations described in section 501(c)(3) of the Code (other than private foundations) that normally do not have more than $25,000 in annual gross receipts from sources within the United States and have no significant activity in the United States. Rev. Proc. 83–23 supplemented.