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Section 170(c) Charity
- What is a section 170(c) charity? It is an organization for which a taxpayer receives a charitable contribution deduction if a donation is made to the organization.
- Section 170(c) charities include public charities and governmental entities.
509(a)(3) Supporting Organization
- What is a 509(a)(3) supporting organization? It is a charity supporting other exempt organizations, usually public charities.
- A Type III supporting organization is functionally integrated or non-functionally integrated.
Non-Profit Organizations
- There are four main types of non-profit organizations: charitable, religious, educational, and social welfare organizations.
Purpose for a Non-Profit
- When writing a purpose for a non-profit, first identify the mission and goals of the organization.
Conclusion
- Government entities are not generally subject to federal income tax.
- 100 percent of a contribution in exchange for the right to purchase tickets or seats is nondeductible.
- An organization is a publicly supported charity if it meets one of two tests: It receives support from publicly supported organizations, governmental units, and/or the public.
- A private foundation is created by a benefactor, while a public charity uses publicly-collected funds to support its initiatives.
- Organizations in IRC 170(b)(1)(A)(vi) normally receive support from governmental units and/or the public.