501c3s financial definition of 501c3s
501(c)(3) (redirected from 501c3s)
A subsection of the Internal Revenue Code governing the status of non-profit organizations devoted exclusively to religious, charitable, scientific, educational, and other, similar purposes. 501(c)3 organizations are exempt from federal taxation and, in most cases, contributions and donations made to them are also tax exempt. Nearly all major charities in the United States are 501(c)3 organizations; many philanthropic foundations do not provide grants to organizations not registered under 501(c)3. They are not allowed to lobby for political candidates.
501(c)(3)A charitable organization, named after Internal Revenue Code, Section 501(c)(3), which gives such organizations tax-exempt status.
References in periodicals archive
(And not all 501c3s
necessarily pay chamber membership dues, reminds Joe Antrim, community service coordinator for Touch Your World.) To date, students have grabbed hammers for Habitat for Humanity, entertained residents at the Lutheran Haven Nursing Home, performed trail maintenance at the Seminole County Natural Lands and done other service projects.