55-495, 1955-2 CB 259. .05 Marsh Foundation, a common law trust, is exempt. Morgan v. Nauts. (DC) 1928 CCH D-8237. .065 Milwaukee housing corporation, organized to provide homes for wage earners, is exempt as a civic league. ... from the adverse effects resulting from the inefficient restoration of plumbersa#39; cuts, qualified for exemption under Code Sec. 501 (c) ... Debs Memorial Radio Fund, Inc. v.