501(c)(3) Not for Profit Page Don Fitch CPA CITP (877)CPA-Help or (877)272-4357 Website www.Paylesstax.com

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BASIC REQUIREMENTS FOR CODE SECTION 501(c)(3) STATUS

Pursuant to Code Section 501(a), an organization described in Code Section 501(c) is exempt from federal tax unless the exemption is denied under Code Sections 502 or 503. Organizations eligible for deductible charitable contributions and other ancillary benefits are defined by Code Section 501(c) as follows:

[C]orporations, and any community chest, fund or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or to foster national or international amateur sports competition (but only if no part of its activities involve the provision of athletic facilities or equipment), or for the prevention of cruelty to children or animals.

Charity may also include other purposes beyond those specifically enumerated in Code Section 501(c)(3). Indeed, under Reg. Section 1.501(c)(3)-1(d)(2), the term "charitable" includes relief of the poor and distressed or of the underprivileged; advancement of religion; advancement of education or science; erection or maintenance of public
buildings, monuments, or works; lessening of the burdens of government; and promotion of social welfare by organizations designed to accomplish any of these purposes, or to lessen neighborhood tensions; to eliminate prejudice and discrimination; to defend human and civil rights secured by
law; or to combat community deterioration and juvenile delinquency.

An organization that confers no benefits directly on the community but exists solely for the purpose of distributing income to other tax-exempt organizations at the discretion of its trustees or directors may itself be an organization described in Code Section 501(c)(3) if the amount of the
contributions shows that it is carrying on "a charitable program commensurate in scope with its financial resources." Rev. Rul. 64-182, 1964-1 C.B. 186; Rev. Rul. 67-149, 1967-1 C.B. 133.

An organization that would otherwise qualify for an exemption under Code Section 501(c)(3) is not exempt from federal income tax if Code Section 502 applies. Code Section 502 relates to feeder organizations. Under Code
Section 502 and Reg. Section 1.502-1(a), an organization operated for the primary purpose of carrying on a trade or business for profit is not tax exempt just because all of its profits are payable to one or more exempt organizations. However, an organization that can show that it is performing an integral part of the exempt activities of its parent organization and/or its subsidiary organizations will not be regarded as a feeder organization.

501(c)(3) Not for Profit Page Don Fitch CPA CITP (877)CPA-Help or (877)272-4357 Website www.Paylesstax.com