Oct 23
(No Ratings Yet)
Loading ...You have probably heard the 501(c)3 expression already, and you were wondering what it is. Well, simply put, the 501(c) is a condition of the United States Internal Revenue Code, which allows incorporation of charitable, or otherwise called non-profit associations such as Labor Unions, Credit Unions, Mutual Insurance companies and Veterans’ organizations. Those companies are exempt from Federal income taxes and their main purpose is not acquiring profit, but helping the public. 501(c) organizations are prohibited from participating in various political activities.
Tags: 501(c) | credit union | mutual insurance | debt | labor union | charity | non-profit
Like this post? Click here to subscibe via RSS and get future posts automatically!
Email This Post
Related posts:
Recent Comments