RationalWiki:RationalWiki Foundation/501(c)(3) public charity status

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[edit] Tax exempt status

[edit] United States

As a public charity organized and operated exclusively for educational purposes, the RationalWiki Foundation is tax exempt under Section 501(c)(3) of the Internal Revenue Code. All donations made to the Foundation may be deducted from your federally taxable income to the extent permitted by law. You should contact a tax professional to determine whether and to what extent donations are deductible under your particular circumstances.

Pursuant to 26 C.F.R. § 1.508-1(a)(3)(i)(b) the RationalWiki Foundation is excused from obtaining an official determination of exempt status by filing Form 1023 because its gross receipts are not normally more than $5,000.[1] Nonetheless, the Foundation anticipates submitting its completed Form 1023 in fiscal 2012 in order to obtain an official IRS determination of exempt status so that donors and/or their tax preparers can be assured of the Foundation's tax exempt status if they so require.

[edit] Other countries

Other countries may permit donations to the Foundation to be deducted from your taxable income. For example, under Canadian law, donations made to 501(c)(3) exempt organizations may be deductible from the taxpayer's US derived income. You should contact a tax professional in your country to determine whether and to what extent donations are deductible under your particular circumstances.

The information provided is not intended to be legal advice and you should not construe it as legal advice. It is provided for informational purposes only. You should contact a tax professional for further guidance.

[edit] Footnotes

  1. The RationalWiki Foundation was incorporated on August 4, 2010; its gross receipts during its first fiscal year of operation (January 1, 2010 through January 1, 2011) were less than $7,500. See, 26 C.F.R. § 1.508-1(a)(3)(ii)(a).
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