Small Block

Capital Absorption Opportunity · Tax-exempt organizations (26 U.S.C. § 501) · 501(c) Organizations

501(c)(3) Organizations

Definition

Corporations, community chests, funds, and foundations organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or for the prevention of cruelty to children or animals, with limits on private benefit, lobbying, and political campaign activity; the paragraph has been in the Code since its 1954 enactment.[1]

Federal law

  1. Internal Revenue Code of 1954, Pub. L. 83-591, ch. 736, § 501, 68A Stat. 163. Enacted section 501(c)(3) as part of the Internal Revenue Code of 1954. Official text: govinfo.gov, U.S. Government Publishing Office.