An ED is based on a set of detailed information about the organization's operations and finance. Specifically, a non-U.S. organization is deemed equivalent to a U.S. public charity if it meets this three prong test:
- It is organized like a U.S. public charity;
- It is operated like a U.S. public charity; and
- It meets certain minimum public support requirements (if required).
For more information on these concepts, see our LegalEASE blog.