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To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual.
The online search tool allows you to search for an organization's tax exempt status and filings in the following data bases: Form 990 series returns. Form 990-N (e-Postcard) Pub. 78 data. Automatic revocation of exemption list.
To apply for recognition by the IRS of exempt status under IRC Section 501 (c) (3), you must use either Form 1023 or Form 1023-EZ. All organizations seeking exemption under IRC Section 501 (c) (3) can use Form 1023, but certain small organizations can apply using the shorter Form 1023-EZ.
A 501 (c) (3) organization is a tax-exempt nonprofit organization subject to many IRS rules. Learn the requirements, costs, and pros and cons of setting up a 501 (c) (3).
Section 501(c)(3) organizations are subject to limits on lobbying, having a choice between two sets of rules establishing an upper bound for their lobbying activities. Section 501(c)(3) organizations risk loss of their tax-exempt status if these rules are violated.
Section 501(c)(3) is the portion of the US Internal Revenue Code that allows for federal tax exemption of nonprofit organizations that meet the code’s requirements. These nonprofits may be considered public charities, private foundations, or private operating foundations, which we’ll explain in more detail later.
If an organization is labeled 501(c), it means it is a nonprofit organization concerned with providing a public benefit and is exempt from paying federal income taxes.