501(C)(3) General Knowledge
501 Deductibility Code for Charitable Donations
In general, an individual who itemizes deductions may deduct contributions to most charitable organizations up to 50% (60% for cash contributions) of his or her adjusted gross income computed without regard to net operating loss carrybacks. ...
Deducting Startup costs of a 501(C)(3) Nonprofit
Founders, initial board members, and donors may claim a deduction for contributions made to set up and establish the organization on their individual or corporate tax return once the organization has obtained the 501(C)(3) status. The organization ...
Ways To Lose Tax-Exempt Status
There are many ways an organization can lose tax-exempt status. We’ll expand on the most common methods below. If you have questions about your specific situation, please reach out to one of BryteBridge’s specialists, who guide you with the best ...
Initial Charity Registration or Solicitation Rules - All States Snapshot
Depending on which state(s) the organization operates and solicits in, there are likely additional steps to take before you want to start soliciting for donations. Initial Charity Registration or Solicitation Rules - All States Snapshot DO NOT ...
Advantages of a 501(C)(3)
Advantages of a 501(C)(3) The recognition of your organization as a 501(c)(3) tax-exempt entity by the Internal Revenue Service (IRS) offers many advantages in helping your organization receive donations and establish credibility. Tax Deduction for ...
Conflict of Interest Explained
What is the purpose of the conflict of interest policy? Charitable organizations are frequently subject to intense public scrutiny, especially where they appear to have inappropriately benefited their officers, directors, or trustees. The IRS also ...