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TAXSPEAK: Internal Revenue Code 501 ©

There has been substantial public discussion and debate over the last 2 years regarding IRS approval procedures involving so called 501 (c) (4) non profit organizations. However the 501  C label applies to many categories from 501 (‘C) 1 to 501 (‘C) (28)
These categories include the following:
501(c)(1) Corporations Organized under Act of Congress (including Federal Credit Unions)
501(c)(2) Title Holding Corporation for Exempt Organization
501(c)(3) Religious, Educational, Charitable, Scientific, Literary, Testing for Public Safety, to Foster National or International Amateur Sports Competition, or Prevention of Cruelty to Children or Animals Organizations
501(c)(4) Civic Leagues, Social Welfare Organizations, and Local Associations of Employees
501(c)(5) Labor, Agricultural, and Horticultural Organizations
501(c)(6) Business Leagues, Chambers of Commerce, Real Estate Boards, Etc.
501(c)(7) Social and Recreational Clubs
501(c)(8) Fraternal Beneficiary Societies and Associations
501(c)(9) Voluntary Employees Beneficiary Associations
501(c)(10) Domestic Fraternal Societies and Associations
501(c)(11) Teacher’s Retirement Fund Associations
501(c)(12) Benevolent Life Insurance Associations, Mutual Ditch or Irrigation Companies, Mutual or Cooperative Telephone Companies, Etc.
501(c)(13) Cemetery Companies
501(c)(14) State Chartered Credit Unions, Mutual Reserve Funds
501(c)(15) Mutual Insurance Companies or Associations
501(c)(16) Cooperative Organizations to Finance Crop Operations
501(c)(17) Supplemental Unemployment Benefit Trusts
501(c)(18) Employee Funded Pension Trust (created before June 25, 1959)
501(c)(19) Post or Organization of Past or Present Members of the Armed Forces
501(c)(21) Black Lung Benefit Trusts
501(c)(22) Withdrawal Liability Payment Fund
501(c)(23) Veterans Organizations (created before 1880)
501(c)(25) Title Holding Corporations or Trusts with Multiple Parents
501(c)(26) State-Sponsored Organization Providing Health Coverage for High-Risk Individuals
501(c)(27) State-Sponsored Workers’ Compensation Reinsurance Organization
501(c)(28) National Railroad Retirement Investment Trust
Contributions to (1), (3), (8),(10),(13) by individual taxpayers  are generally deductible as itemized charitable
deductions on Federal Form 1040, Schedule A, and are also deductible from Alternative Minimum Tax calculations.
The greatest popluation of non-profit entities is 501 (‘C) (3)
In general applications for the non-profit designations need to be made to the IRS using Forms 1023, or 1024, and an annual non-profit tax return must be filed.