Get Announcement 99-60 - Deletions From Cumulative List Of Organizations Contributions To Which Are

170(c)(1) A State, a possession of the United States, or any political subdivision of any of the foregoing, or the United States or the District of Columbia, but only if the contribution or gift is made for exclusively public purposes. 170(c)(2) A corporation, trust, or community chest, fund, or foundation—

Section 170(a) provides, subject to certain limitations, a deduction for any charitable contribution, as defined in § 170(c), payment of which is made within the taxable year. Section 170(f)(3) denies a charitable contribution deduction for certain contributions of partial interests in property.

The IRS maintains an “Exempt Organizations Select Check Tool” (available at https://.irs.gov/charities-non-profits/exempt-organizations-select-check ), which enables a user to search for organizations to determine their eligibility to receive tax-deductible charitable contributions.

Outline of Basic Requirements. Organizations described in IRC 170(b)(1)(A)(vi) are charities that normally receive a substantial part of their support from governmental units and/or from Page 3 direct or indirect contributions from the general public.

Section 170 provides that contributions to certain types of organizations—primarily 501(c)(3)s and a few others—are deductible by the donor as itemized deductions. Section 501(c)(3) governs tax exemption of organizations, while section 170 governs deductibility of contributions by individuals.

(i) An organization is described in section 170(b)(1)(A)(iv) if it meets the support requirements of subdivision (ii) of this subparagraph and is organized and operated exclusively to receive, hold, invest, and administer property and to make expenditures to or for the benefit of a college or university which is an ...

Section 509(a) (also referred to as Section 170(b)) of the Internal Revenue Code designates a 501(c)(3) organization's public charity/private foundation status, which is determined by the nature of the organization or types of financial support it receives.

501(c)(3) organizations may take one of three primary structures: public charities, private foundations, and private operating foundations.

Section 170 provides that contributions to certain types of organizations—primarily 501(c)(3)s and a few others—are deductible by the donor as itemized deductions. Section 501(c)(3) governs tax exemption of organizations, while section 170 governs deductibility of contributions by individuals.