|
What is a 501(c)(3) organization and what makes it so special? |
|
|
|
Saturday, 02 December 2006 |
|
A 501(c)(3) organization is defined by the IRS as a charitable organization that receives more than 50% of its operating expenses from pubic donations.
In order to obtain this certification, an organization must submit an application that describes its mission and business plan. These items must conform to the guidelines for a charitable organization. Any organization that has been granted 501(c)(3) status has met these guidelines.
Donations to such an organization may be tax deductible. Please consult with your tax advisor for details.
|