Unit #1 Flashcards
(8 cards)
What is a 501(c) (4)
It is a social welfare organization. Unlike 501(c)(3) charities, 501(c)(4)s can engage in unlimited lobbying and some political activities, as long as these are not their main focus—generally, at least 50.1% of their activities must be dedicated to social welfare rather than politics. Donations to 501(c)(4) organizations are not tax-deductible for donors
T or F. You get a tax deduction for giving to 501 (c) (4)
False
T or F. Religious organizations do not have to register but can do so if they want to
True
Organizations with less than what in revenue do not have to register.
$5,000
What are the five functions served by the nonprofit sector according to author Lester Salamon
- Solidatrity or community belonging.
- Service provision
- Advocay
- Expressive function
- Values guardian
What are the four impulses shaping the nonprofit sector, per Lester Salamon
Voluntarism, civic activism, professionalism, Commercialism
What are the three sectors discussed in unit #1?
The three sectors are public, private, and nonprofit Or This refers to the
business, government, and nonprofit sectors.
What is the non-distribution requirement for nonprofits?
Prohibition on profit distribution: Nonprofits are not allowed to distribute profits to shareholders, members, or managers who control the organization35.
Reinvestment of surplus: Any excess funds must be used to further the nonprofit’s mission and activities rather than benefiting private parties
