SECTION 4. NORMALLY NOT MORE

THAN $50,000

For purposes of section 3 of this revenue procedure, the annual gross receipts of an organization are normally not more than $50,000 if—

(1) in the case of an organization that has been in existence for one year or less, the organization’s gross receipts, including amounts pledged by donors, are $75,000 or less during its first taxable year;

(2) in the case of an organization that has been in existence for more than one year, but less than three years, the organization’s average annual gross receipts for its first two taxable years is $60,000 or less; and,

(3) in the case of an organization that has been in existence for three years or more, the organization’s average annual gross receipts for the immediately preceding three taxable years, including the taxable year for which the return is filed, is $50,000 or less.