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Form 1023 is a United States IRS tax form, also known as the Application for Recognition of Exemption Under 501(c)(3) of the Internal Revenue Code. It is filed by nonprofits to get exemption status. On January 31, 2020, the IRS abandoned the paper format of the form 1023.
A 501(c)(3) organization is allowed to conduct some or all of its charitable activities outside the United States. [64] [65] A 501(c)(3) organization is allowed to award grants to foreign charitable organizations if the grants are intended for charitable purposes and the grant funds are subject to the 501(c)(3) organization's control. [66]
The Accrediting Commission of Career Schools and Colleges (ACCSC) is a private, 501(c)(3) nonprofit organization in the United States that provides national accreditation to private post-secondary educational institutions. It is recognized by the United States Department of Education as an independent accrediting agency. [6]
501(c)(4)s are similar to 501(c)(5)s and 501(c)(6)s in that the organizations may inform the public on controversial subjects and attempt to influence legislation relevant to its program. [40] Unlike 501(c)(3) organizations, they may also participate in political campaigns and elections, as long as their primary activity is the promotion of ...
If the organization purpose is one of those described in §501(c)(3) of the Internal Revenue Code, [3] it may apply for a ruling that donations to it are tax deductible to the persons or business entities who make them. The organization itself will be exempt from taxation as long as it does not engage in unrelated business activities.
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Federal tax law provides tax benefits to nonprofit organizations recognized as exempt from federal income tax under section 501(c)(3) of the IRC. The benefits of 501(c)(3) status include exemption from federal income tax as well as eligibility to receive tax-deductible charitable contributions. In 2017, there were a total of $281.86 billion in ...
Charity Navigator is a charity assessment organization that evaluates more than 230,000 charitable organizations based in the United States, operating as a free 501(c)(3) organization. [4] It provides insights into a nonprofit's financial stability, adherence to best practices for both accountability and transparency, and results reporting. [ 4 ]