EXM-N01 — Memberships are exempt only if members receive the listed benefits and nothing more

Memberships are exempt only if members receive the listed benefits and nothing more: an indirect benefit accruing to all members collectively; investigative, conciliatory or complaint-settlement services; the right to vote or participate in meetings; the right to buy property and services at fair market value; a discount where the total value of all discounts is insignificant, meaning less than 30% of the fee; and newsletters or reports worth less than 30% of the fee, or reporting on the organization's activities and financial status