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Form 990 or 990-EZ - Schedule C Everett Washington: What You Should Know

See. Frequently, it is necessary for tax-exempt groups to distinguish between a public charity and a private foundation. As such, IRS Publication 15-A, Tax Guide For Determining Whether To Tax Private Foundations, provides this information. See Pub. 15a, Employers' Tax Guide For Determining Whether To Tax Private Foundations. (In general, private foundations are charities because they receive tax-deductible contributions from a public charity.) Also, see Publication 15-A, Employers' Tax Guide For Determining Whether To Tax Private Foundations For the complete guidelines. The “public benefit” requirement of IRC 501(c)(3) is satisfied if the group has certain goals as to how it will use the resources provided by the grant. The nonprofit is not required to prove that this benefit is actually realized. A private foundation may qualify for tax-exempt status if it is organized and operated solely to further the general welfare of the community or if it meets other requirements under the tax law. The IRS does not consider a public benefit for the purposes of determining if a group qualifies for tax-exempt status. If a group is organized exclusively to promote religious, philosophical, or political views or views that the organization may oppose, all such contributions made by the group to a private foundation or to a private club that is supported by the charitable organization is subject to federal income tax as a corporation or labor organization. See IRC 6513(k). All contributions from the group must first be distributed to the public under certain conditions. If these conditions are not met, then the contributions are no longer considered charitable donations and must be paid the ordinary income tax rate. If a private foundation is involved in any business other than its charitable activities or does not meet the requirements of IRC 501(c)(3) and is not exempt from income tax, it is required to pay the same amount of federal income tax as it would otherwise. There are certain restrictions on the activities of private foundations that are not present in public foundations. Under IRC 501(c)(3), the group must operate solely for the organization's public charity purpose.

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