What is a 501c3?

What is 501(c)(3)?

To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized  and operated  exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure  to any private shareholder or individual. In addition, it may not be an action organization, i.e., it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates.

Organizations described in section 501(c)(3) are commonly referred to as charitable organizations. Organizations described in section 501(c)(3), other than testing for public safety organizations, are eligible to receive tax-deductible contributions in accordance with Code section 170.

The organization must not be organized or operated for the benefit of private interests, and no part of a section 501(c)(3) organization's net earnings may inure to the benefit of any private shareholder or individual. If the organization engages in an excess benefit transaction with a person having substantial influence over the organization, an excise tax may be imposed on the person and any organization managers agreeing to the transaction.

Section 501(c)(3) organizations are restricted in how much political and legislative (lobbying) activities they may conduct.

Home Fur Good has been officially registered and approved as a 501(c)(3) organization.

What Does This Mean To You?

Donations you make to HFG may be tax deductible for you. We will give you a receipt for any donations you generously give but you should always consult an account to determine if that donation is deductible.