The Belize Arts Foundation is registered as a 501(C)(3) Non-Profit Organization that qualify donations to be tax-deductible of its donors
What Is a 501(C)(3) Organization?
Section 501(c)(3) is a portion of the U.S. Internal Revenue Code (IRC) and a specific tax category for nonprofit organizations. Organizations that meet the requirements of Section 501(c)(3) are exempt from federal income tax. While the Internal Revenue Service (IRS) recognizes more than 30 types of nonprofit organizations, organizations that qualify as 501(c)(3) organizations are unique because donations to these organizations are tax-deductible for donors.
KEY TAKEAWAY
- Section 501(c)(3) is a portion of the U.S. Internal Revenue Code (IRC) and a specific tax category for nonprofit organizations.
- Organizations that meet the requirements of Section 501(c)(3) are exempt from federal income tax.
- While the Internal Revenue Service (IRS) recognizes more than 30 types of nonprofit organizations, organizations that qualify as 501(c)(3) organizations are unique because donations to these organizations are tax-deductible for donors.
Status: Pending
