Daily Archives: November 1, 2009

Which New York Non-Profit Organizations Are Eligible For 501(c) (3) Tax-Exempt Status?

There are three key components for an organization to be exempt from federal income tax under section 501(c) (3) of the Internal Revenue Code. A not-for-profit (i.e., nonprofit) organization must be organized and operated exclusively for one or more exempt purposes. ORGANIZED – A 501(c) (3) organization must be organized as a corporation, trust, or […]