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Foundation (United States Law)
A foundation in the United States is a type of charitable organization. Though, the Internal Revenue Code distinguishes between private foundations (usually funded by an individual, family, or corporation) and public charities ( community foundations and other nonprofit groups that raise money from the general public). Private foundations have more restrictions and fewer tax benefits than public charities like community foundations. History The two most famous philanthropists of the Gilded Age pioneered the sort of large-scale private philanthropy of which foundations are a modern pillar: John D. Rockefeller and Andrew Carnegie. The businessmen each accumulated private wealth at a scale previously unknown outside of royalty, and each in their later years decided to give much of it away. Carnegie gave away the bulk of his fortune in the form of one-time gifts to build libraries and museums before divesting almost the entirety of his remaining fortune in the Carnegie Foundation and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Revenue Code
The Internal Revenue Code of 1986 (IRC), is the domestic portion of federal statutory tax law in the United States. It is codified in statute as Title 26 of the United States Code. The IRC is organized topically into subtitles and sections, covering federal income tax in the United States, payroll taxes, estate taxes, gift taxes, and excise taxes; as well as procedure and administration. The Code's implementing federal agency is the Internal Revenue Service. Origins of tax codes in the United States Prior to 1874, U.S. statutes (whether in tax law or other subjects) were not codified. That is, the acts of Congress were not organized and published in separate volumes based on the subject matter (such as taxation, bankruptcy, etc.). Codifications of statutes, including tax statutes, undertaken in 1873 resulted in the Revised Statutes of the United States, approved June 22, 1874, effective for the laws in force as of December 1, 1873. Title 35 of the Revised Statutes was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harry S
Harry may refer to: Television *Harry (American TV series), ''Harry'' (American TV series), 1987 comedy series starring Alan Arkin *Harry (British TV series), ''Harry'' (British TV series), 1993 BBC drama that ran for two seasons *Harry (New Zealand TV series), ''Harry'' (New Zealand TV series), 2013 crime drama starring Oscar Kightley#Professional career, Oscar Kightley *Harry (talk show), ''Harry'' (talk show), 2016 American daytime talk show hosted by Harry Connick Jr. People and fictional characters *Harry (given name), a list of people and fictional characters with the given name, including **Prince Harry, Duke of Sussex (born 1984) *Harry (surname), a list of people with the surname Other uses *"Harry", the tunnel used in the Stalag Luft III escape ("The Great Escape") of World War II *Harry (album), ''Harry'' (album), a 1969 album by Harry Nilsson *Harry (derogatory term), derogatory term used in Norway *Harry (newspaper), ''Harry'' (newspaper), an underground newspaper in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foundations Based In The United States
Foundation(s) or The Foundation(s) may refer to: Common uses * Foundation (cosmetics), a skin-coloured makeup cream applied to the face * Foundation (engineering), the element of a structure which connects it to the ground, and transfers loads from the structure to the ground * Foundation (evidence), a legal term * Foundation (nonprofit), a type of charitable organization ** Foundation (United States law), a type of charitable organization in the U.S. ** Private foundation, a charitable organization that might not qualify as a public charity by government standards Arts, entertainment, and media Film and TV * ''The Foundation'', a film about 1960s-1970s Aboriginal history in Sydney, featuring Gary Foley * ''The Foundation'' (1984 TV series), a Hong Kong series * ''The Foundation'' (Canadian TV series), a 2009–2010 Canadian sitcom * "The Foundation" (''Seinfeld''), an episode * ''Foundation'' (TV series), an Apple TV+ series adapted from Isaac Asimov's novels Games * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charities Based In The United States
A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being (e.g. educational, religious or other activities serving the public interest or common good). The legal definition of a charitable organization (and of charity) varies between countries and in some instances regions of the country. The regulation, the tax treatment, and the way in which charity law affects charitable organizations also vary. Charitable organizations may not use any of their funds to profit individual persons or entities. However, some charitable organizations have come under scrutiny for spending a disproportionate amount of their income to pay the salaries of their leadership. Financial figures (e.g. tax refunds, revenue from fundraising, revenue from the sale of goods and services or revenue from investment, and funds held in reserve) are indicators to assess the financial sustainability of a charity, especially to charity evaluators. This ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nonprofit Organization
A nonprofit organization (NPO), also known as a nonbusiness entity, nonprofit institution, not-for-profit organization, or simply a nonprofit, is a non-governmental (private) legal entity organized and operated for a collective, public, or social benefit, as opposed to an entity that operates as a business aiming to generate a Profit (accounting), profit for its owners. A nonprofit organization is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. Depending on the local laws, charities are regularly organized as non-profits. A host of organizations may be non-profit, including some political organizations, schools, hospitals, business associations, churches, foundations, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be Tax exemption, tax-exempt, and some may also qualify to receive tax-deductible contributions, but an enti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supporting Organization (charity)
A supporting organization, in the United States, is a public charity that operates under the United States, U.S. Internal Revenue Code i26 USCA 509(a)(3) A supporting organization either makes grants to, or performs the operations of, a public charity similar to a private foundation. However, unlike donations to a private foundation, donations to a supporting organization garner the same higher deduction rate as donations to public charities. However, supporting organizations allow less control over the organization to the founders than private foundations. The Internal Revenue Code calls a public charity that relies on a supporting organization a "supported organization". History The Tax Reform Act of 1969 created private foundations and imposed greater restrictions on this classification, including excise taxes and lower donor deductions for contributions. This Act created supporting organizations as an exception to private foundations—because they are organized, operated, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
501(c) Organization
A 501(c) organization is a nonprofit organization in the Law of the United States#Federal law, federal law of the United States according to Internal Revenue Code (26 U.S.C. § 501(c)). Such organizations are exempt from some Taxation in the United States, federal Income tax in the United States, income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions. Many states refer to Section 501(c) for definitions of organizations exempt from state taxation as well. 501(c) organizations can receive unlimited contributions from individuals, corporations, and Labor union, unions. For example, a nonprofit organization may be tax-exempt under section 501(c)(3) organization, 501(c)(3) if its primary activities are charitable, religious, educational, scientific, literary, testing for public safety, fostering amateur sports competition, or preventing cruelty to Child abuse, children or Animal cruelty, animals. Types According to the IRS Publication 557, in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foundation (nonprofit)
A foundation (also referred to as a charitable foundation) is a type of nonprofit organization or charitable trust that usually provides funding and support to other charitable organizations through grants, while also potentially participating directly in charitable activities. Foundations encompass public charitable foundations, like community foundations, and private foundations, which are often endowed by an individual or family. Nevertheless, the term "foundation" might also be adopted by organizations not primarily engaged in public grantmaking. Description Legal entities existing under the status of "foundations" have a wide diversity of structures and purposes. Nevertheless, there are some common structural elements. * Legal requirements followed for establishment * Purpose of the foundation * Economic activity * Supervision and management provisions * Accountability and auditing provisions * Provisions for the amendment of the statutes or articles of incorporation * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
501(c)(6)
A 501(c) organization is a nonprofit organization in the federal law of the United States according to Internal Revenue Code (26 U.S.C. § 501(c)). Such organizations are exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions. Many states refer to Section 501(c) for definitions of organizations exempt from state taxation as well. 501(c) organizations can receive unlimited contributions from individuals, corporations, and unions. For example, a nonprofit organization may be tax-exempt under section 501(c)(3) if its primary activities are charitable, religious, educational, scientific, literary, testing for public safety, fostering amateur sports competition, or preventing cruelty to children or animals. Types According to the IRS Publication 557, in the ''Organization Reference Chart'' section, the following is an exact list of 501(c) organization types (29 in total) and their corresponding descriptions. Gener ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
501(c)(3)
A 501(c)(3) organization is a United States corporation, Trust (business), trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of the 29 types of 501(c) organization, 501(c) nonprofit organizations in the US. 501(c)(3) tax-exemptions apply to entities that are organized and operated exclusively for religion, religious, Charitable organization, charitable, science, scientific, literature, literary or educational purposes, for Public security#Organizations, testing for public safety, to foster national or international amateur sports competition, or for the prevention of Child abuse, cruelty to children or Cruelty to animals, animals. 501(c)(3) exemption applies also for any non-incorporated Community Chest (organization), community chest, fund, Cooperating Associations, cooperating association or foundation organized and operated exclusively for those purposes. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-profit Organization
A nonprofit organization (NPO), also known as a nonbusiness entity, nonprofit institution, not-for-profit organization, or simply a nonprofit, is a non-governmental (private) legal entity organized and operated for a collective, public, or social benefit, as opposed to an entity that operates as a business aiming to generate a Profit (accounting), profit for its owners. A nonprofit organization is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. Depending on the local laws, charities are regularly organized as non-profits. A host of organizations may be non-profit, including some political organizations, schools, hospitals, business associations, churches, foundations, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be Tax exemption, tax-exempt, and some may also qualify to receive tax-deductible contributions, but an enti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michigan
Michigan ( ) is a peninsular U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, Upper Midwestern United States. It shares water and land boundaries with Minnesota to the northwest, Wisconsin to the west, Indiana and Illinois to the southwest, Ohio to the southeast, and the Canadian Provinces and territories of Canada, province of Ontario to the east, northeast and north. With a population of 10.14 million and an area of , Michigan is the List of U.S. states and territories by population, 10th-largest state by population, the List of U.S. states and territories by area, 11th-largest by area, and the largest by total area east of the Mississippi River.''i.e.'', including water that is part of state territory. Georgia (U.S. state), Georgia is the largest state by land area alone east of the Mississippi and Michigan the second-largest. The state capital is Lansing, Michigan, Lansing, while its most populous city is Detroit. The Metro Detroit r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
