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If an organization is to qualify for tax exempt status, the organization's (a) charter — if a not-for-profit corporation — or (b) trust instrument — if a trust — or (c) articles of association — if an association — must specify that no part of its assets shall benefit any people who are members, directors, officers or agents (its principals).
Individuals must file IRS Form 8283 to report noncash charitable contributions if deductions for all noncash gifts are greater than $500. Things such as art, intellectual property and securities ...
The predecessor of IRC 501(c)(6) was enacted as part of the Revenue Act of 1913 [88] likely due to a U.S. Chamber of Commerce request for an exemption for nonprofit "civic" and "commercial" organizations, which resulted in IRC 501(c)(4) for nonprofit "civic" organizations and IRC 501(c)(6) for nonprofit "commercially-oriented" organizations. [77]
However, the 501(h) election is not advantageous for very large non-profits whose lobbying expenditures exceed the $1,000,000 total cap or the $250,000 grassroots lobbying cap. These organizations may still be able to justify the expenditures as insubstantial if their operating budget is much larger, although it does entail increased risk.
To maintain their nonprofit status, churches cannot “participate in, or intervene in (including the publishing or distributing of statements), any political campaign on behalf of (or in ...
[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]
The Public Charity Lobbying Law gives nonprofit organizations the opportunity to lobby without losing their nonprofit status with the Internal Revenue Service. Under Section 501(c)(3) of the Internal Revenue Code , nonprofit organizations are not allowed to use a "substantial" part of their spending on lobbying, with substantial spending ...
By contrast with 501(c)(3) organizations they may lobby for legislation and participate in political campaigns and elections, [10] in which case they are not nonpartisan. 501(c)(6) organizations are trade group, chambers of commerce, and other business organizations. They can be nonpartisan, but they may also engage in lobbying and other ...