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In a non-profit corporation, the "agency problem" is even more difficult than in the for-profit sector, because the management of a non-profit is not even theoretically subject to removal by the charitable beneficiaries. The board of directors of most charities is self-perpetuating, with new members chosen by vote of the existing members.
Donations made to 501(c)(3) organizations are typically tax-deductible for the donors, meaning individuals and businesses can claim those donations as deductions on their tax returns, subject to certain limitations. This tax benefit encourages charitable giving. In contrast, donations made to 501(c)(4) organizations are not generally tax ...
A mutual-benefit corporation can be non-profit or not-for-profit in the United States, but it cannot obtain IRS 501(c)(3) non-profit status as a charitable organization. [1] It is distinct in U.S. law from public-benefit nonprofit corporations, and religious corporations. Mutual benefit corporations must still file tax returns and pay income ...
Most HOA fees are not tax deductible, but there can be exceptions. “As is often the case in federal tax, the answer is — it depends,” said Karen Wallace, assistant professor in Adelphi ...
The Government’s decision to apply VAT to private school fees could have a “seismic impact” on girls’ life chances, a leading headteacher has warned. Alex Hutchinson, president of the ...
The membership dues are tax-deductible in full unless a substantial part of the 501(c)(6) organization's activities consists of political activity, in which case a tax deduction is allowed only for the portion of membership dues that are for other activities. [75]
Applying VAT does not necessarily mean fees will go up by 20%. Some private schools may decide to put up their fees more than others. On average, the government expects fees to increase by around 10%.
A value-added tax (VAT or goods and ... 14 As of June 2023, 175 [2] of the 193 countries with UN membership employ a VAT, ... entrance fees to cultural, entertainment ...