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Phyl the Jukebox

Nonprofit organizations ( NPOs) are frequently begun by like-minded people coming together for the support of a cause that, at least potentially, has major social implications. They can also be formed for private causes, if they fulfill slightly different criteria under applicable laws. So planning is important. The term 501(c)(3) refers to a provision of the Internal Revenue Code that deals with exemptions from income tax on the contributions received from individuals and corporations by the organization. In addition, donors receive tax deductions for their contributions. However, this tax exemption is available only to organizations pursuing a specified set of activities. Certain activities, such as political campaigning, influencing or lobbying for legislation, are excluded.

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