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A charitable for-profit entity is an organization with a charitable mission but legally organized as a for-profit corporation. Both benefit corporations and Low-profit limited liability companies (L3C) fall under this category. As well as generating a profit, a charitable for-profit entity concentrates on setting a social objective.
Form 1023 requires the following information about an applying charity: Date of organization's creation and what country it was created under; Organizational structure; Organizing documents (e.g. articles of incorporation, trust agreement, articles of association) Description of organization's past, present, and future activities
[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]
Extending well beyond the holiday "Season of Giving," Americans have participated in an astonishing amount of charitable contributions in the last two years. It's a trend that appears to be ...
Budding philanthropists can gain more freedom to get things done and help others by starting their own private foundation, rather than working through an established charity.
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.
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