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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]
A 501(c)(4) organization may directly or indirectly support or oppose a candidate for public office as long as such activities are not a substantial amount of its activities. [36] [47] A 501(c)(4) organization that lobbies must register with the Clerk of the House if it lobbies members of the House or their staff. [42]
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 tax-deductible donations by individuals. [64] To qualify for 501(c)(3) status, most organizations must apply to the IRS for such status. [65 ...
Gifting low-basis stock instead of cash can be a strategic option to support a 501(c)(3) charitable organization. Donors can avoid paying capital gains taxes while taking a charitable donation ...
501(c)(3) is a classification for organizations operated exclusively for religious, charitable, scientific, testing for public safety, literary, educational purposes, to foster national or international amateur sports competition, or for the prevention of cruelty to children or animals. [3] [4]
These regulations are used not only to determine if the organization is exempt from tax under the organization's activities as a non-profit organization. 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 ...
An organization must meet certain requirements set forth in the code. Some organizations must also file a request with the Internal Revenue Service to gain status as a tax-exempt non-profit charitable organization under section 501(c)(3) of the tax code. A non-exhaustive list of organizations that may meet the Federal requirements are as follows:
The most common types are charitable, religious and educational organizations, civic associations, labor organizations, business leagues, social clubs, fraternal organizations, and veterans’ organizations. [2] The following organizations are eligible to file Form 1023 under section 501(c)(3) of the Internal Revenue Code:
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