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Do I also need the (c) 4. Endowment Account: The principal of the endowment account is locked. The IRS permits deductions to schools that are either nonprofit or supported only by local or state government funds. It just wouldn't be a tax deductible gift given your 501c4 status. Would that mean if a 501c7 obtains funds from charging admission to parties related to the purpose of the 501c7 and donates the funds collected throughout the year to 501c3 organizations those donations would be deductible from 501c7 gross revenue? Do we file as a 501(c)6? We are seniors and just trying to help others and we were told we should be 501(C)(4) is the best fit, do you agree. what is the difference between a 501c3 and a 501c7 The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. What are the differences between the two? We work with feeding, neutering and when possible finding homes for abandoned and feral cats. You might be able to consider it a lobbying expense if it were designated toward such efforts. The goal is no politics , run by the members , for the members. Same question for sponsors/donors who give over any dues amount. Midas Muffler shop owners tried this and the failure ended up the subject of an IRS Revenue Ruling. Qualifying nonprofit organizations only conducting fundraising activities that do not constitute the operation of a regular place of business are not required to register with the Department of Revenue. Last year we took in less than $2000 and spent way more on food and neutering not even counting gas. Great question. Youll have to dig out your Form 1023 and your Articles of Incorporation to see what you told the IRS about your mission. I recommend reaching out to our Nonprofit Advisors to discuss the details of your plans. Do dogs know when they are separated from their parents? One does that matter, and two,what are some of the benefits that we should be taking advantage of with that classification? We have been approved. Foundations cannot give to 501c7s. What is the difference between Thank you. Usually, I tell clients if they are eligible for 501c3 status (and youth sports are eligible as c3s because they are educational organizations), then file for the 501c3. Im happy to help your organizations as well. There is no such specific requirement under IRS regulations, but it certainly is not a bad thing to do. It does not store any personal data. Go to http://www.IRS.gov and click on the Charities and Nonprofits tab. 501(c)(7) social clubs exempt purpose does not Just don't forget the disclaimer! They provide a tax-exempt option for people to conduct activities that are not a for-profit business, but do not qualify for a 501(c)(3). We are a 501 c6. Donations made to 501(c)(5) organizations are generally not tax deductible. If your church operates solely for religious and educational purposes, your donation will qualify for the tax deduction.