Footnotes:
1. See IRS Publication 557 for exceptions to filing requirements.
Also see the tax form.
2. A nonprofit organization exempt under a Subsection of Internal Revenue Code §
501 other than (c)(3) may establish a charitable fund, to which
contributions are deductible. The fund must itself meet the requirements
of Internal Revenue Code § 501(c)(3) and the related notice
requirements of Internal Revenue Code § 508(a).
3. Contributions to volunteer fire companies and similar nonprofit organizations
are deductible, but only if made for exclusively public purposes.
4.Deductible as a business expense to the extent allowed by Internal
Revenue Code § 192.
5.Deductible as a business expense to the extent allowed by Internal
Revenue Code § 194(A).
6.Application is by letter to the address shown on Form 8718. A copy of
the nonprofit organizing document should be attached and the letter should be
signed by an officer.
7. Contributions to these nonprofit organizations are deductible only if 90% or
more of the nonprofit organization's members are war veterans.
8. For limits on the use of Form 990EZ see IRS Publication 557 and the
general instructions for Form 990EZ or Form 990.
9.Although the nonprofit organization files a partnership return, all
distributions are deemed dividends. The members are not entitled to
"pass-through" treatment of the nonprofit organization's income or
expenses. |
