Difference between revisions of "Nonprofit organization"
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A '''nonprofit organization''' is an organization which does not sell or provide services for [[profit]]. [[Church]]es are nonprofit organizations. Others include most charities and public organizations (such as the [[Boy Scouts]] and the [[Red Cross]]).<br /> | A '''nonprofit organization''' is an organization which does not sell or provide services for [[profit]]. [[Church]]es are nonprofit organizations. Others include most charities and public organizations (such as the [[Boy Scouts]] and the [[Red Cross]]).<br /> | ||
In U.S. tax code, non-profit organizations can be exempted from taxation if they submit proper state and federal exemption forms. The most common exception is granted under the Internal Revenue Code 501(c)(3) (Charitable, non-profit, religious, and educational organizations), but there are other exemptions. These include IRC 501(c)(1) through IRC 501(c)28.<ref>https://www.irs.gov/charities-non-profits/types-of-tax-exempt-organizations</ref><ref>http://www.taxfreecharity.com/types.htm</ref> | In U.S. tax code, non-profit organizations can be exempted from taxation if they submit proper state and federal exemption forms. The most common exception is granted under the Internal Revenue Code 501(c)(3) (Charitable, non-profit, religious, and educational organizations), but there are other exemptions. These include IRC 501(c)(1) through IRC 501(c)28.<ref>https://www.irs.gov/charities-non-profits/types-of-tax-exempt-organizations</ref><ref>http://www.taxfreecharity.com/types.htm</ref> | ||
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[[Category:Organizations]] | [[Category:Organizations]] | ||
Revision as of 06:08, September 26, 2016
A nonprofit organization is an organization which does not sell or provide services for profit. Churches are nonprofit organizations. Others include most charities and public organizations (such as the Boy Scouts and the Red Cross).
In U.S. tax code, non-profit organizations can be exempted from taxation if they submit proper state and federal exemption forms. The most common exception is granted under the Internal Revenue Code 501(c)(3) (Charitable, non-profit, religious, and educational organizations), but there are other exemptions. These include IRC 501(c)(1) through IRC 501(c)28.[1][2]