501c3 - Definition

501C3 refers to section 501(c)(3) of the United States Internal Revenue Code that exempts payment of federal income taxes for groups that are organized for charitable, religious, scientific, literary or educational purposes. The Internal Revenue Code is Title 26 of the United States Code.

Section 501(c)(3) is just one of many sections in the Internal Revenue Code which grants tax exemption to non-profit organizations, but it is also the most common one. For this reason, non-profit organizations are often referred to as "501C3 organizations" or similar.

See also: Non-profit organization

External links

• United States Code (http://www.gpoaccess.gov/uscode/browse.html) - Browse the U.S. Code at the Government Printing Office
• Internal Revenue Code (http://www.access.gpo.gov/uscode/title26/subtitlea_chapter1_subchapterf_parti_.html) - Direct link to sections 501 - 505