While 501 (c)(6) organizations are non-profit, they are not necessarily charitable. Some professional organizations may be classified as a 501 (c)(3) if the purpose of the organization is to promote the profession by engaging in activities that are purely scientific or educational. Typically o...
A charitable group or foundation may qualify as tax exempt under Section 501(c)(3) of the federal tax code. The IRS will accept an application for this status with several important conditions. As long as the group maintains its 501(c)(3) status, its inc
If a 501c has its charter pulled by a national organization, the real property and assets must be donated to another 501c. If there are no designated trustees, who has the right to make this donation and who has control until this donation is made?
A 501(c)(3) organization is a nonprofit that enjoys special, tax-exempt status. These organizations are obligated to serve the public good. Nonprofits can receive grants from the government and from private foundations due to their tax-exempt status, and they receive several discounts as well,...
A 501(c)(4) organization is exempt from federal taxes; however, donors may not deduct contributions to these groups. Most states also extend tax-exempt status to 501(c)(4)s. According to IRS regulations, a 501(c)(4) must operate to promote the general public welfare; it may not benef...
A. The EFTA organization has nine member countries. B. The EFTA is part of the European Community. C. The EFTA is an international company with English as its official language. D. All the member countries of the E. FTA use English as their native language. 相关知识点: 试题...
A 501(c)(6) membership-based nonprofit is an organization that exists to promote its members' business interests, without the goal of making a profit. In addition, these organizations must make sure that no one individual or shareholder benefits financially from the organization's income. While ...
What is true about the EFTA organization according to the passage?() A.The EFTA organization has nine member countries. B.The EFTA is part of the European Community. C.The EFTA is an international company with English as its official language. D.All the member countries of the EFTA use En...
must sign the document, which must be dated.” The IRS uses the term association, yet because nonprofits fall under the 501 IRS Code, they must have leadership. An association with a structure and leadership could be called an association, but it is more accurate to call it an organization...
An organization must maintain the purpose that it has previously reported to the IRS, such as that its mission is to help less privileged individuals gain access to a college education. The 501(c)(3) organization must first notify the IRS of its change of operations if it decides to engage...