How to Obtain a 501c3

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In knowing how to obtain a 501c3, the first step is to make sure the company seeking this status is properly incorporated. In almost all circumstances, a corporation must be formed for the IRS to grant this tax-exempt status. This requires all appropriate incorporation documents to be filed with the…

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501c3 vs 501c6

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A 501c3 organization is one that has been created and be operated in a manner that fits with certain allowed programs that benefit the general public. Scientific, educational, and religious programs are generally accepted. Charitable organizations and other companies also qualify for this tax exempt status on a regular basis….

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501c3 Rules and Regulations Explained

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The 501c3 tax exempt status is the most common status that is awarded to organizations by the IRS. In order to qualify for this status, an organization must show through its policies and procedures that it is serving the general public good in a specific way. This could be through…

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Philanthropy vs Charity

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Since both involve the donation of money toward a general public good, many see the philanthropy vs charity debate to be pointless. As John Gardner once said, having wealth or giving to charity isn’t new. What makes philanthropy different is that private wealth is used systematically and creatively to solve…

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Private Foundation vs Public Charity

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The IRS may award a 501c3 status to both private foundations and public charities. Both organizations must meet specific regulations that govern how the company operates, what programs and services are offered to the public, and what happens to assets upon dissolution of the organization. Knowing what the difference is…

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501c3 vs 501c7

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There are numerous tax exempt status opportunities for American businesses today. Each is classified under the specific tax codes that govern businesses that fit into that structure. The most popular classification is the 501c3, but the 501c7 status may be a better fit for some organizations. Here are the differences…

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