CamSnod1997
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- Nov 14, 2018
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Most non profits are not taxable.No. Profit and not-for-profit are classifications under state law. Tax-deductible contributions are those made to tax-exempt organizations pursuant to Section 170 of the Internal Revenue Code, and require IRS approval for tax-exempt status. Not all non-profit organizations have such approval.
Most non profits are not taxable.
Only reason I know that is because I worked with a ministry for 2 years and they never their donations taxed. The people on the payroll yes they was taxed like everyone else but donations nope.
The non profit I was working for was under 501c3 non profit? So I’m guessing each non profit has to fall under a certain category.?? Could be wrong but that’s what I’m guessing after reading your post and if that’s true what would this non profit fall under?True, but not because they're classified as not-for-profit. It's because they also were granted tax-exempt status by the IRS -- that's what governs deductibility of contributions on tax returns filed with the IRS. It requires filing an application for that status with the IRS, and having it approved.
Does non-profit status guarantee they have to disclose how the money is being spent?No. Profit and not-for-profit are classifications under state law. Tax-deductible contributions are those made to tax-exempt organizations pursuant to Section 170 of the Internal Revenue Code, and require IRS approval for tax-exempt status. Not all non-profit organizations have such approval.
Honestly, Arch would make a great QB in a pro style type of offense but Nico seems to be the better fit in what Heupel wants for his offense.