Yes they are.
Unless other arrangements have been made with the Charity, the one/Co that raised the money has taxable income for the amount raised, and likely a charitable deduction for the amount donated (presuming it was donated to a QUALIFIED charity). Those giving the money did not donate to a charity and do not have any deduction.
how much money would I get if I was an accountant in Scotland
a lot
how much money do bakers make a year?
Yes they are.
It is possible to have a LLC and 501c3, but the IRS sets conditions. A non profit and a limited ?æLiability company may have shared values but not enough structure.
"Long-standing" or not, if they collect and disseminate money they have to be in compliance with all tax laws.
Local and state laws vary in each state on whether a 501c3 organization can hold an online contest. States such as Alabama, Hawaii, Kansas, South Carolina, and Utah do not permit it.
Yes. It is a registered 501c3 organization
Yes, they can.
No, 501c3 are documents filed with the IRS for a Non Profit Corporations' tax exempt status once the Corporation has been filed with the Secretary of states office. Articles of incorporation are documents filed with the secretary of states office to create the corporation.
501c3 organizations do not legally need two signatures on checks over $500. However, most organizations choose the amount,Êwith an average of $1000 or more requiring two signatures on checks.
hi phyillis what is a 501c3?? Start with your Small Business Association in the city you live in.
Guidestar is a company that offers all of the financial information for 501C3 corporations or businesses. You can also find the information by requesting it through the mail at Commissioner of Internal Revenue Attn: Freedom of Information Reading Room, 1111 Constitution Avenue, NWWashington, DC 20224.
See link http://www.irs.gov/publications/p557/ch03.html
Yes, it is possible for this type of organization to be sued. Many of these organizations have insurance to help in these types of cases.