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Abby, our taxpayer, owns a sporting goods store. Her business is doing well so she decides to donate some of last season's inventory to The Women's Sports Foundation, a certified charitable organization. Abby's adjusted gross income this year is $700,000. The fair market value of Abby's donated inventory is $600,000.
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 tax because they are not formed for a purpose that is meant to benefit the general public (unlike public-benefit nonprofit corporations) but rather to provide an association of ...
501(c)(3) tax-exemptions apply to entities that are organized and operated exclusively for religious, charitable, scientific, literary or educational purposes, for testing for public safety, to foster national or international amateur sports competition, or for the prevention of cruelty to children or animals. 501(c)(3) exemption applies also ...
During the 2012 debate over the Patient Protection and Affordable Care Act, Catholic Charities USA was among the Catholic groups that expressed support for the Obama administration's efforts to address religious objections to some features of its implementation, even as the National Conference of Catholic Bishops opposed the administration's ...
The Better Business Bureau (BBB) is an American private, 501(c)(6) nonprofit organization founded in 1912. BBB's self-described mission is to focus on advancing marketplace trust, [2] consisting of 92 independently incorporated local BBB organizations in the United States and Canada, coordinated under the International Association of Better Business Bureaus (IABBB) in Arlington, Virginia.
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).
One by one, diversity, equity and inclusion programs at some of the country’s biggest companies fell apart in 2024, with signs that efforts to reverse DEI initiatives will only ramp up in 2025.
Children's Development Trust; The Children's Investment Fund Foundation; Children's Liver Disease Foundation; Children's Miracle Network Hospitals; Children's National Medical Center; Christian Care Foundation for Children with Disabilities; Christian Children's Fund of Canada; Church World Service; The Citizens Foundation; City Sikhs; City ...