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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.
[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 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]
The Federal Food Donation Act of 2008 built on the Bill Emerson Good Samaritan Food Donation Act by encouraging federal agencies to donate excess food to nonprofit organizations, utilizing the exemption for civil and criminal liability provided for in the 1996 law. Federal contracts for the purchase of food valued at over $25,000 must make ...
A food bank or food pantry is a non-profit, charitable organization that distributes food to those who have difficulty purchasing enough to avoid hunger, usually through intermediaries like food pantries and soup kitchens. Some food banks distribute food directly with their food pantries. St. Mary's Food Bank was the world's first food bank ...
As of Thursday, the Framingham food pantry had raised $7,300 toward its $10,000 goal (it is seeking monetary donations instead of food). How to help a Framingham pantry restock its freezer after ...
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