501(c)(3)
Abbreviation with 2 meanings
| Stands for | Section 501(c)(3) organization |
|---|---|
| Meanings | 2 |
| Categories | Organizations & Companies, Business & Finance |
501(c)(3) has two meanings. It stands for Section 501(c)(3) organization (nonprofit) or Charitable organization (Internal Revenue Code section 501(c)(3)) (tax).
Meanings of 501(c)(3) at a glance
| # | 501(c)(3) stands for | Context |
|---|---|---|
| 1 | Section 501(c)(3) organization | Organizations & Companies › Nonprofit |
| 2 | Charitable organization (Internal Revenue Code section 501(c)(3)) | Business & Finance › Tax |
1. Section 501(c)(3) organization
Organizations & Companies · Nonprofit Abbreviations
US tax-exempt organization operated for charitable, religious, educational, scientific or similar purposes, to which donations are generally tax-deductible. Such groups may not campaign for or against political candidates and may lobby only to a limited extent.
Example: We are a registered 501(c)(3), so your gift is tax-deductible to the extent allowed by law.
The name refers to the section of the Internal Revenue Code. There are more than a million such organizations, divided into public charities and private foundations. Most must file an annual Form 990, which is public. The ban on campaign activity is often called the Johnson Amendment, after a 1954 change sponsored by Lyndon Johnson.
2. Charitable organization (Internal Revenue Code section 501(c)(3))
Business & Finance · Tax Abbreviations
Federal tax-exempt status for organizations operated exclusively for charitable, religious, educational, scientific or similar purposes. Donations to them are generally deductible for itemizing donors, and the organization pays no federal income tax on income related to its mission.
Example: We are a registered 501(c)(3), so your gift is tax-deductible to the extent allowed by law.
Pronounced "five-oh-one-see-three." Organizations apply on Form 1023 or the shorter 1023-EZ, and the IRS lists approved groups in its Tax Exempt Organization Search. A 501(c)(3) may not take part in political campaigns for or against candidates and may do only limited lobbying. Public charities differ from private foundations, which face extra rules and an excise tax on investment income.
Related abbreviations
More nonprofit abbreviations
- 4-H – 4-H
- 501(c)(4) – Section 501(c)(4) organization
- AA – Alcoholics Anonymous
- AAA – American Automobile Association
- AARP – AARP (formerly American Association of Retired Persons)
- AAUW – American Association of University Women
- ACLU – American Civil Liberties Union
- ACS – American Cancer Society
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More tax abbreviations
- 1120 – U.S. Corporation Income Tax Return (IRS Form 1120)
- 1120-S – U.S. Income Tax Return for an S Corporation (IRS Form 1120-S)
- 409A – Section 409A (nonqualified deferred compensation rules)
- 4868 – Application for Automatic Extension of Time To File U.S. Individual…
- 83(b) – Section 83(b) election
- 940 – Employer's Annual Federal Unemployment (FUTA) Tax Return (IRS Form…
- 941 – Employer's Quarterly Federal Tax Return (IRS Form 941)
- 990 – Return of Organization Exempt From Income Tax (IRS Form 990)