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501(c)(3)
Meaning
Noun
●
In American English & Taxation:
An organization that
complies
with
section
501(c)(3) of the U.S.
federal
tax
c
ode. A
non-profit
organization
exempt
from some
federal
income taxes
, due to being
dedicated
to
charitable
,
religious
,
educational
,
scientific
, public
safety
,
promotion
of
amateur
sport
at the
national
or international level,
prevention
of
cruelty
to women or
c
hildren or
animals
, or
literary
purposes.
Sourced from
Wiktionary
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