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  1. #1
    Join Date
    Nov 2009
    Posts
    5

    Default Non-Profit but Not Tax Exempt

    can someone elaborate on this a little more?

    " Because it is possible to be a non-profit corporation without being tax-exempt. "

    im trying to do research on it but i keep getting the wrong results. thanks

  2. #2
    Join Date
    Jul 2007
    Location
    Florida
    Posts
    2,344

    Default Re: Non-Profit but Not Tax Exempt

    Non-profit means that an orginazation exists for some purpose other than to make a profit. The local Moose lodge is an example. They have a hall they may rent out for weddings, and they may have a bar, and all sorts of activities that generate income. Their income may or may not be subject to taxation depending on its source and how it is used. Contributions to your local Moose lodge are not tax deductible. That's an example of a Non-profit corporation that is not tax exempt. A home owner's association would be another example.

    Go to http://www.irs.gov/charities/article...=96136,00.html to search for organizations eligible to receive tax deductible contributions. These are non-profits who have taken the additional step of qualifying as charitable organizations.

    This link may also be helpful: http://www.irs.gov/charities/article...136195,00.html

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