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In March 2005, the Interim Report of the Panel of the Nonprofit Sector delivered to the Senate Finance Committee cited GuideStar's contributions to nonprofit transparency. [31] In June, GuideStar launched a new Web site that included all tax-exempt organizations registered with the IRS, expanding the database by more than 340,000 nonprofits. [32]
A 501(c)(3) organization is a United States corporation, trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of the 29 types of 501(c) nonprofit organizations [1] in the US.
The National Center for Charitable Statistics (NCCS) is a clearing house for information about the nonprofit sector of the U.S. economy. The National Center for Charitable Statistics builds national, state, and regional databases and develops standards for reporting on the activities of all tax-exempt organizations.
A not-for-profit or non-for-profit organization (NFPO) is a legal entity that does not distribute surplus funds to its members and is formed to fulfill specific objectives. [ 1 ] [ 2 ] While not-for-profit organizations and non-profit organizations (NPO) are distinct legal entities, the terms are sometimes used interchangeably. [ 3 ]
A 501(c) organization is a nonprofit organization in the federal law of the United States according to Internal Revenue Code (26 U.S.C. § 501(c)). Such organizations are exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions.
A nonprofit organization (NPO), also known as a nonbusiness entity, [1] nonprofit institution, [2] or simply a nonprofit, [a] is a legal entity organized and operated for a collective, public or social benefit, as opposed to an entity that operates as a business aiming to generate a profit for its owners. A nonprofit organization is subject to ...
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.
A charitable organization [1] or charity is an organization whose primary objectives are philanthropy and social well-being (e.g. educational, religious or other activities serving the public interest or common good). The legal definition of a charitable organization (and of charity) varies between countries and in some instances regions of the ...