Not-for-Profit org.'s... do you know??????

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Not-for-Profit org.'s... do you know??????

Can a not-for-profit exist without a 501c3? and if so, woudl they still get a form of tax exemption?

2007-10-08 02:56:28 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

2 answers

A not-for-profit is not necessarily a 501(c)3 registered charity. If there's no profit, there's no tax. Donations to registered charities are deductible by the donor. Donations to other non-profits are not.

2007-10-08 03:10:40 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋

Sure, lots of non-profits are not 501(c)3 organizations. If they don't make a profit, they aren't taxed.

Contributions to them aren't tax deductible by the donor.

2007-10-08 03:19:19 · answer #2 · answered by Judy 7 · 0⤊ 0⤋