April 2020
Intermediate to advanced
944 pages
33h 53m
English
Content preview from Tax Planning and Compliance for Tax-Exempt Organizations, 6th Edition
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CHAPTER 2Qualifying Under IRC §501(c)(3)
- 2.1 Organizational Test
- 2.2 Operational Test
- (a) Charitable Class
- (b) Amount of Charitable Expenditures
- (c) Income Accumulations
- (d) Commensurate Test
- (e) Business Activity
- (f) Importance of Sources of Support
- (g) Action Organization
- (h) Feeders and the Integral Part Test
- (i) International Activities
- (j) The Internet and Tax-Exempt Organizations
- (k) Governance
- (l) Economic Substance
Organizations that qualify for exemption under Internal Revenue Code (IRC) §501(c)(3) include “[c]orporations, and any community chest, fund, or foundation, organized and operated exclusively” for one of eight specific charitable purposes and that meet the four specific and absolute criteria listed here:1
- It operates for religious,2 charitable,3 scientific,4 testing for public safety, literary, or educational purposes,5 or to foster national or international amateur sports competition (but only if no part of its activities involves the provision of athletic facilities or equipment), or for the prevention of cruelty to children or animals.
- No part of its net earnings inures to the benefit of any private shareholder or individual.6
- No substantial part of its activities is carrying on propaganda or otherwise attempting to influence legislation7 (except as otherwise provided ...
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