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[37] [38] A private nonprofit organization, GuideStar, provides information on 501(c)(3) organizations. [39] [40] ProPublica's Nonprofit Explorer provides copies of each organization's Form 990 and, for some organizations, audited financial statements. [41] Open990 is a searchable database of information about organizations over time. [42]
For example, a nonprofit organization may be tax-exempt under section 501(c)(3) if its primary activities are charitable, religious, educational, scientific, literary, testing for public safety, fostering amateur sports competition, or preventing cruelty to children or animals.
Logo of the United Nations Children's Fund (UNICEF), an organization of the United Nations. A nonprofit organization (NPO), also known as a nonbusiness entity, [1] nonprofit institution, [2] or simply a nonprofit, [a] is a legal entity organized and operated for a collective, public or social benefit, as opposed to an entity that operates as a business aiming to generate a profit for its owners.
The American Council on Education (ACE) is a nonprofit 501(c)(3) U.S. higher education association established in 1918.ACE's members are the leaders of approximately 1,600 accredited, degree-granting colleges and universities and higher education-related associations, organizations, and corporations. [1]
By contrast, certain other nonprofit organizations are not considered non-partisan: 501(c)(4) organizations, which are tax-exempt, are operated exclusively for promoting social welfare, or local organizations with membership limited to a particular company, municipality, or neighborhood, and which devote their earnings to charity, education, or recreation. [9]
Nonprofit status was initially declined by the U.S. Department of Education and then granted in 2018. [28] Sunstate Academy was purchased by the family-run Compass-Rose Foundation in 2003. [16] Ultimate Medical Academy switched from nonprofit to for-profit in 2005, and then converted back in 2015. [16]
Until 1969, the term private foundation was not defined in the United States Internal Revenue Code.Since then, every U.S. charity that qualifies under Section 501(c)(3) of the Internal Revenue Service Code as tax-exempt is a "private foundation" unless it demonstrates to the IRS that it falls into another category such as public charity.
Established in 1918, the American Council on Education (ACE) [2] is a United States organization comprising over 1,800 accredited, degree-granting colleges and universities and higher education-related associations, organizations, and corporations. ACE is being known as the "umbrella" higher education association in the United States.
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