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In computing net gifts for the calendar year there shall be allowed as a deduction the amount of all gifts made during such year to or for the use of:\n(a) The Virgin Islands for exclusively public purposes.\n(b) A corporation, or trust, or community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes, including the encouragement of art and the prevention of cruelty to children or animals; no part of the net earnings of which inures to the benefit of any private shareholder or individual, and no substantial part of the activities of which is carrying on propaganda, or otherwise attempting, to influence legislation.