501(c)(3) definition
501(c)(3) is the informal means of referring to 26 U.S.C. § 501(c)(3) of the Internal Revenue Code and refers to a non-profit organization whose tax-exempt activities are, inter alia, charitable, religious, educational, scientific, or literary. The term “charitable,” according to the Internal Revenue Service (IRS), “is used in its generally accepted legal sense and includes relief of the poor, the distressed, or the underprivileged; advancement of religion; advancement of education or science; erecting or maintaining public buildings, monuments, or works; lessening the burdens of government; lessening neighborhood tensions; eliminating prejudice and discrimination; defending human and civil right secured by law; and combating community deterioration and juvenile delinquency.” Exempt Purposes—Internal Revenue Code Section 501 (c)(3), www.irs.gov/charities-non-profits/charitable- organizations/exempt-purposes-internal-revenue-code-section-501c3 (last visited November 14, 2016).
501(c)(3) means qualified 501(c)(3) conduit revenue bond, which provides tax‐exempt financing for capital improvement projects of specified nonprofit corporations.
501(c)(3) designation means that a particular nonprofit organization has been approved by the Internal Revenue Service as a tax-exempt, charitable organization under the tax code 501 c 3. TASH is a 501(c)(3) organization. As an approved TASH Chapter, your chapter is granted tax-exempt status under the TASH group exemption. For tax exemption, it is not necessary to file for 501(c)(3) status, but it is an option for a chapter.
More Definitions of 501(c)(3)
501(c)(3) means qualified 501(c)(3) conduit revenue bond or loan.
501(c)(3) means qualified 501(c)(3) conduit revenue bond, which provides tax-exempt financing for capital improvement projects of specified nonprofit corporations.