charitable organization

charitable organization. Tax. A tax-exempt organization that (1) is organized and operated exclusively for religious, scientific, literary, educational, athletic, public-safety, or community-service purposes, (2) does not distribute earnings for the benefit of private individuals, and (3) does not participate in any way in political candidate campaigns, or engage in substantial lobbying. IRC (26 USCA) § 501(c)(3). — Also termed charity; 501(c)(3) organization. [Cases: Charities 1–50; Internal Revenue 4048–4069. C.J.S. Charities §§ 2–70; Internal Revenue §§ 462–464, 466–468, 470, 472–474.]

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词条贡献者

双语律师Terence，国际知名法学院法律专业，擅长翻译各类与油气、资源与采矿业相关的法律文件。