Section 501(c)(3) Organization

Section 501(c)(3) Organization means:
an organization that is specifically exempted from income tax and meets the following criteria:

1. It is organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, for fostering national or international amateur sports competition, or for the prevention of cruelty to children or animals.

2. No part of the net earnings inures to the benefit of any private shareholder or other individual.

3. Carrying on propaganda or otherwise attempting to influence legislation is no substantial part of the activities.

4. The organization does not participate in any political campaign on behalf of any candidate for public office.

See also the entries Income Tax and State Income Tax in the American Encyclopedia of Law.

see Tax Code in the U.S. Encyclopedia and Tax Code in the Global Encyclopedia.