501(c)

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501(c)

A section of the Internal Revenue Code governing the status of several different kinds of non-profit organizations. In general, organizations registered under 501(c) are exempt from federal taxation and, in some cases, contributions and donations made to them are also tax exempt. In many instances, laws in individual states exempt 501(c) organizations from their own taxes. Examples of 501(c) organizations include churches, charities, lobbying groups, labor unions, social clubs, and even cemeteries.
References in periodicals archive ?
As an independent 501c (3) nonprofit organization, the Alaska Airlines Foundation is focused on programs that benefit young people in the communities served by Alaska Airlines.
The Home Depot Foundation offers grant awards up to $5,000 to 501c designated organizations (recognized and in good standing with the IRS for a minimum of one year) and tax-exempt public service agencies in the U.S.
The Alaska Airlines Foundation was established in 1998 as an independent 501c (3) organization as a way to supplement Alaska Airlines' overall corporate giving program which last year donated USD 13.5 million in cash and in-kind support to charities throughout the airline's system.
Sometimes, it's simply because a company has a matching gifts program, in which they agree to match the personal giving of any employee to any officially recognized 501c 3 charity.
His position as treasurer of a 501c not for profit organization dedicated to investing in a train station he designed as a part of his regular paying job constitutes a conflict of interest that reporters didn't ask him about.
Both units have 501C filing status and are restricted to community facility use.
To make it easier for governmental agencies and other nonprofits to partner with the foundation on future projects it has been structured as a separate 501c (3) charitable foundation.
* Four new policies were presented that are required for 501C organizations and include Whistle Blower Protection, Process for Deterring Compensation, Joint Venture Policy, and Document Retention.
(one 500CW with bundle-compression and Stream Squeeze Roller); The Plain Dealer, Cleveland (one Model 501 Narrow and four Model 501C stackers with bundle-compression to handle ROP products, in addition to two existing Quipp Packman packaging systems for its inserting operations).
MATI is a 501C museum and donations should be marked for the MATI/SOB Project.
Groups registered under section 501c of the tax code aren't required to disclose their donors, but they're also not supposed to make electioneering their main activity.