The Commission's policy with respect to underwriting announcements
distinguishes between for-profit and non-profit entities. A noncommercial station
may not receive remuneration for promoting for-profit entities.

If a noncommercial station determines that the broadcast of the announcements is in
the public interest, it may air paid promotional announcements regarding nonprofit
entities or unpaid announcements for for-profits. (Although this memo is
confined to FCC requirements, you should know that the FCC and IRS have
adopted slightly different definitions of an advertisement. The IRS definition
includes the paid promotion of a non-profit entity.)

The preceding is an excerpt from 
HOW NOT TO WRITE UNDERWRITING
ANNOUNCEMENTS
By John Crigler
GSBLaw.com

 John Crigler is a member of the law firm of Gamey Schubert Barer. He can be reached at 202-965-7880 or jcrigler@,asblaw.com. The material presented here is intended solely for informational purposes and is of a general nature that cannot be regarded as legal advice. Please consult a communications attorney if you have specific questions.