A non-profit organization is a group organized for purposes other than generating profit and in which no part of the organization’s income is distributed to its members, directors, or officers.  Noah’s Foundation has applied for 501C3 status and once received all donations made to Noah’s Foundation become tax deductible.

What is a 501(c)(3)?

Section 501(c)(3) is the part of the US Internal Revenue Code that allows for federal tax exemption of nonprofit organizations. A 501(c)(3) organization is a corporation, trust, unincorporated association, or other types of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code.

Organizations must be considered “charitable” by the IRS to receive a 501(c)(3) classification. According to the IRS, a charitable organization is one that has been established for the below purposes :

• Religious
• Charitable
• Scientific
• Testing for Public Safety
• Literary
• Educational
• Fostering of national or international amateur sports, and
• Prevention of cruelty to animals and children

Organizations that also help the poor and underprivileged, help erect or maintain public buildings or national or state monuments, promote civil rights, and combat juvenile delinquency and urban decay can also be considered nonprofit organizations.