Exemption requirements - 501(c)(3) organizations - Internal Revenue Service 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
501 (c) organization - Wikipedia 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
26 U. S. Code § 501 - LII Legal Information Institute Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt under this section Rules similar to the rules of subparagraph (G) of paragraph (25) shall apply for purposes of this paragraph
What is a 501(c)(3)? A Guide to Nonprofit Tax-Exempt Status 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
What Is 501(a) and Which Entities Qualify for Tax-Exempt Status? Section 501 (a) of the Internal Revenue Code grants tax-exempt status to organizations serving distinct community purposes These include entities organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes
How to apply for 501(c)(3) status | Internal Revenue Service 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
Types of tax-exempt organizations - Internal Revenue Service Tax information for charitable, religious, scientific, literary, and other organizations exempt under Internal Revenue Code ("IRC") section 501 (c) (3) Information, explanations, guides, forms, and publications available on irs gov for tax-exempt social welfare organizations
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