Is there a definition as to what a 501(c)3 non-profit can do for fund raising?
If you have a 501(c)3 corporation, and want to have raffles (where legal) or auction products off, are there specific terms as to how that money can be raised and used by the nonprofit?
Ok so you know that a 501(c) organization or simply "a 501(c)" is an American tax
-exempt, nonprofit corporation or association. Section 501(c) of the United States Internal Revenue Code (26 U.S.C. § 501(c) ), provides that 28 types of nonprofit organizations are exempt from some federal income taxes. Sections 503 through 505 set out the requirements for attaining such exemptions. Many states refer to Section 501(c) for definitions of organizations exempt from state taxation as well.
You can have raffels and auctions but its a tricky process as to what you can use the money for, just save receipts as well as who the doner is and talk to a tax professional as i am only a Private Equity investor and not a CPA. I hope that helps some..
by graceinus2 years ago
Did you know ALL churches who are 501(c)(3) tax exempted are controled by the U.S. Government?If your church has the 501(c)(3) tax exemption then the clergy of these churches CAN NOT speak out against Government...
by GA Anderson3 years ago
Here's the deal - it sure seems like Pres. Obama has been spending a lot of time fundraising lately. And since he can't run again - it must be for the Democrat Party and its candidates.Well, every president does this as...
by fetty6 years ago
I just purchased a double CD from our local Sam's Club called S O N G S F O R J A P A N . I am no music groupie just an average person who enjoys good music. But when my purchase also...
by Nickny798 years ago
Issue: Why raising taxes on corporations is BAD economics and does NOT serve any social justice:1. when gov't raises taxes on corps., corps. don't pay more money, CONSUMERS do with increased prices that...
by Karen A. Harris6 years ago
I have been thinking about starting one for a while and have no idea on how to begin. Please share some of your experiences. I really would appreciate the help. God Bless You
by Sooner284 years ago
http://www.huffingtonpost.com/2013/06/2 … 92679.htmlThe "liberal" media are the ones who initially hyped the story! I remember reading the New York Times and feeling disturbed one group was being...
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.