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501 (c) (3) organization. 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.
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. Many states refer to Section 501 (c) for definitions ...
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. [63] To qualify for 501(c)(3) status, most organizations must apply to the IRS for such status. [64 ...
A mutual-benefit corporation can be non-profit or not-for-profit in the United States, but it cannot obtain IRS 501 (c) (3) non-profit status as a charitable organization. [1] 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 ...
The Wikimedia Foundation, Inc., abbreviated WMF, is an American 501 (c) (3) nonprofit organization headquartered in San Francisco, California, and registered there as a charitable foundation. [ 5 ] It is the host of Wikipedia, the seventh most visited website in the world.
Form 1023 is a United States IRS tax form, also known as the Application for Recognition of Exemption Under 501 (c) (3) of the Internal Revenue Code. It is filed by nonprofits to get exemption status. On January 31, 2020, the IRS abandoned the paper format of the form 1023. Those who used the paper version were given 90 days grace period and ...
A 501(c)(3) organization, it was founded after the Internal Revenue Service revoked the Sierra Club's tax-exempt status due to the group's political activities. [103] [104] The Sierra Club added its first Canadian chapter in 1963 and in 1989 opened a national office in Ottawa. Canadian affiliates of the Sierra Club operate under the Sierra Club ...
The Clinton Foundation (founded in 2001 as the William J. Clinton Presidential Foundation, [7] and renamed in 2013 as the Bill, Hillary & Chelsea Clinton Foundation) [8] is a nonprofit organization under section 501 (c) (3) of the U.S. tax code. It was established by former president of the United States Bill Clinton with the stated mission to ...
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