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501(c) is a subsection of the United States Internal Revenue Code (26 U.S.C. § 501(c)), which lists 28 types of tax exempt non-profit organizations. The Internal Revenue Code (or IRC) (more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, and excise taxes. ...
The United States Code (U.S.C.) is a compilation and codification of the general and permanent federal Law of the United States. ...
A nonprofit organization (sometimes abbreviated to not-for-profit, non-profit, or NPO) is an organization whose primary objective is to support some issue or matter of private interest or public concern for non-commercial purposes. ...
Types The most common 501(c) organizations include: - 501(c)(1) - Corporations organized under acts of Congress such as Federal Credit Unions
- 501(c)(2) - Title holding corporations for exempt organizations
- 501(c)(3) - Various charitable, non-profit, religious, and educational organizations (see below)
- 501(c)(4) - Various political education organizations (see below)
- 501(c)(6) - Business league and chamber of commerce organizations (see below)
- 501(c)(7) - Recreational club organizations
501(c)(3) Section 501(c)(3) is just one of the tax law provisions granting exemption from the federal income tax to non-profit organizations. This exemption does not cover other federal taxes such as employment taxes. A tax exemption is an exemption to the tax law of a state or nation in which part of the taxes that would normally be collected from an individual or an organization are instead foregone. ...
501(c)(3) exemptions apply to corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety (described under 509(a)(4) of the code which makes the organization a public charity and not a private foundation, and contributions to 509(a)(4) organizations are not deductible to the donor for federal income, estate, or gift tax purposes), literary, or educational purposes, or to foster national or international amateur sports competition, or for the prevention of cruelty to children or animals. Fishers of Men, oil on panel by Adriaen van de Venne (1614) Various religious symbols Religion is commonly defined as a group of beliefs concerning the supernatural, sacred, or divine, and the moral codes, practices, values, institutions, and rituals associated with such belief. ...
Allegorical personification of Charity as a mother with three infants by Anthony van Dyck Charity, meaning selfless giving, is one conventional English translation of the Greek term agapē. // Etymology In the 1400, charity meant the state of love or simple affection which one was in or out of regarding one...
The scope of this article is limited to the empirical sciences. ...
Literature is literally acquaintance with letters as in the first sense given in the Oxford English Dictionary (from the Latin littera meaning an individual written character (letter)). The term has generally come to identify a collection of texts, which in Western culture are mainly prose, both fiction and non-fiction...
Another provision, 26 U.S.C. § 170, provides a deduction, for federal income tax purposes, for some donors who make charitable contributions to 501(c)(3) organizations. The United States Code (U.S.C.) is a compilation and codification of the general and permanent federal Law of the United States. ...
Charitable contribution deductions for United States Federal Income Tax purposes are defined in section 170(c) of the Internal Revenue Code as contributions to or for the use of certain listed nonprofit enterprises. ...
501(c)(3) status for charities and the related section 170 deduction for donors are important to many charitable groups. Some individuals and groups (and virtually all foundations) will not give to a charity if it does not have 501(c)(3) status. Therefore, loss of this status can be harmful to a charity's existence.
Organizations with this classification are prohibited from lobbying to influence to elections and legislation. [1]
501(c)(4) 501(c)(4) exemptions are given to civic leagues or organizations not organized for profit but operated exclusively for the promotion of social welfare, or local associations of employees, the membership of which is limited to the employees of a designated person or persons in a particular municipality, and the net earnings of which are devoted exclusively to charitable, educational, or recreational purposes.
See 26 U.S.C. § 501(c)(4)(A). The United States Code (U.S.C.) is a compilation and codification of the general and permanent federal Law of the United States. ...
The exemption does not apply "unless no part of the net earnings of such entity inures to the benefit of any private shareholder or individual." See 26 U.S.C. § 501(c)(4)(B). The United States Code (U.S.C.) is a compilation and codification of the general and permanent federal Law of the United States. ...
Deductibility of donations to 501(c)(4) organizations:
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- Unlike donations to the more prevalent 501(c)(3) non-profit organizations, donations to a section 501(c)(4) organization are not deductible by the donor under section 170 of the code unless the recipient organization is a volunteer fire department as described in revenue ruling 80-77 or veteran organizations with at least 90% of its membership consisting of war veterans as described in revenue ruling 84-140.
In the US, prominent 501(c)(4) organizations include: AARP is an acronym with several meanings: American Association of Retired Persons AppleTalk Address Resolution Protocol Animal Accident Recovery Patrol This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ...
This article concerns the National Rifle Association of the USA. For the UK organisation, see National Rifle Association, UK The National Rifle Association, or NRA, is a 501(c)(4) group for the protection of gun rights in the United States, established in New York in 1871 as the American...
A group of MoveOn volunteers helped the get-out-the-vote drive in Cincinnati in the run-up to the 2004 U.S. presidential election. ...
Focus on the Family Action (sometimes just Focus Action) founded in April 2004, is a evangelical Christian 501(c)(4) non-profit organization based in the United States. ...
The League of Conservation Voters is an American environmentalist lobby. ...
This article is about the organization presently operating in the United States. ...
501(c)(6) The 501(c)(6) is specifically reserved to Chamber of Commerce organizations, real estate boards, trade boards, professional football leagues (e.g., the NFL), and other types of business leagues. They are characterized by a common business interest, which the organization typically promotes. Organizations under this category are exempt from most federal income taxes. Donations to a 501(c)(6) are not tax deductible as charitable contributions, as is the case in the 501(c)(3) category. Chambers of commerce are business advocacy groups which are usually not associated with government. ...
501(c)(3) is a provision of the US tax code that provides exempt status, for Federal income tax purposes, for some non-profit organizations in the United States (see 26 U.S.C. § 501(c)(3)). The term refers to: Section 501. ...
501(c)(6) organizations may engage in limited political activities that inform, educate, and promote their given interest. They may not engage in direct expenditures advocating a vote for a political candidate or cause. Donations to 501(c)(6) organizations are not required to be disclosed.
See also A nonprofit organization (sometimes abbreviated to not-for-profit, non-profit, or NPO) is an organization whose primary objective is to support some issue or matter of private interest or public concern for non-commercial purposes. ...
A 527 group, is a type of tax-exempt organization, named after a section of the United States tax code, that is created primarily to influence the nomination, election, appointment or defeat of candidates for public office. ...
In the United States, a political action committee, or PAC, is the name commonly given to a private group organized to elect or defeat government officials in order to promote legislation, often supporting the groups special interests. ...
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