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A 501(c)(3) nonprofit organization is generally a business entity that adds to the public good. The name comes from section 501(c)(3) of the IRS tax code, which defines the primary purposes of an organization that may qualify it for exemption from federal income tax liability.
Section 501 (c) (3) is the portion of the US Internal Revenue Code that allows for federal tax exemption of nonprofit organizations that meet the code’s requirements. These nonprofits may be considered public charities, private foundations, or private operating foundations, which we’ll explain in more detail later.
Aug 3, 2022 · Fact checked by. Daniel Rathburn. What Is 501 (c)? 501 (c) is a designation under the United States Internal Revenue Code (IRC) that confers tax-exempt status on nonprofit organizations....
ASNs. 14907, 11820. [1] [2] [3] [4] The Wikimedia Foundation, Inc., abbreviated WMF, is an American 501 (c) (3) nonprofit organization headquartered in San Francisco, California, and registered there as a charitable foundation. [5] It is the host of Wikipedia, the seventh most visited website in the world.
Sep 19, 2022 · Taxes. What Is a 501 (c) (3) Tax-Exempt Organization? Definitions and Examples of 501 (c) (3) Organizations. By. Joanne Fritz. Updated on September 19, 2022. Fact checked by. Daniel Rathburn. In This Article. View All. Photo: Blend Images/KidStock/Getty Images.
As a 501 (c) (3) nonprofit public charity, the Wikimedia Foundation may receive tax-deductible donations in the United States. Learn more about tax deductibility in other countries. More information about tax deductibility. How does Wikipedia work? Do you ever wonder how Wikipedia, the free online encyclopedia anyone can edit, really works?
Jan 29, 2024 · To be tax-exempt under section 501 (c) (3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501 (c) (3), and none of its earnings may inure to any private shareholder or individual.
