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An organization must meet certain requirements set forth in the code. Some organizations must also file a request with the Internal Revenue Service to gain status as a tax-exempt non-profit charitable organization under section 501(c)(3) of the tax code. A non-exhaustive list of organizations that may meet the Federal requirements are as follows:
Total corporate cash donations in 2010 are estimated to be $15.29 billion in the United States. [2] Of that, ~80%-85% came from corporate grants and sponsorship of fundraising events while ~15%-20% or $2–$3 billion came from corporate matching gifts and volunteer grants .
Directors and officers of non-profits owe a fiduciary duty to the non-profit and its beneficiaries similar to the duties owed by directors and officers of for-profit corporations. [6] Non-profits can have vicarious liability for injuries caused by their employees or volunteers to third parties, such as by traffic accidents.
In 2013, the Trump Foundation made a $5,000 grant to the non-profit D.C. Preservation League. According to The Washington Post, the nonprofit's support helped the Trump Organization obtain the rights to convert Washington, D.C.'s historic Old Post Office Pavilion into the Trump International Hotel. In acknowledgment of the donation, the Trump ...
The predecessor of IRC 501(c)(6) was enacted as part of the Revenue Act of 1913 [88] likely due to a U.S. Chamber of Commerce request for an exemption for nonprofit "civic" and "commercial" organizations, which resulted in IRC 501(c)(4) for nonprofit "civic" organizations and IRC 501(c)(6) for nonprofit "commercially-oriented" organizations. [77]
Logo of the United Nations Children's Fund (UNICEF), an organization of the United Nations. A nonprofit organization (NPO), also known as a nonbusiness entity, [1] nonprofit institution, [2], not-for-profit organisation, [3] or simply a nonprofit, [a] is a non-governmental (private) legal entity organized and operated for a collective, public or social benefit, as opposed to an entity that ...
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