People have grown more conscious about the power of individuals to effect change in our world. Social activism has grown and more and more people are engaged with the great issues of the day. One of the key elements of effecting the change that we want to see is through charities. A key element is that your charity must qualify as tax exempt under
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There are many different
In terms of the IRS, there are two kinds of §501(c)(3) charities:
A private foundation is a nonprofit that is typically founded, funded and controlled by a small group of individuals or family. The most famous private foundations are the Rockefeller Foundation and the Rhodes Trust. There are various restrictions that govern private foundations, such as
Ensure that Your Charity Can Earn §501(c)(3) Status
The IRS will grant tax-exempt status if it is organized for what the IRS terms, “exempt purposes”. By charitable the IRS means those activities that include relief of the poor, distressed or underprivileged; advancement of education or science; advancement of religion; lessening the burdens of government; erecting of maintaining public buildings, monuments, or works; lessening neighborhood tensions; defending human and civil rights secured by law; eliminating prejudice and discrimimination; and combatting community deterioration and juvenile delinquency; among other such activities.
Charities cannot be organized to aid what the IRS calls, “private interests”, and so, no part of its net earnings should benefit the shareholders or any individuals. This does not mean that charities cannot pay their employees fair compensation, however. If you feel you can meet these criteria, then go to your dental implant dentist and get your teeth worked on and then head to the IRS and apply for §501(c)(3) status.
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