Supporting Organization (charity)
A supporting organization, in the United States, is a public charity created by the U.S. Internal Revenue Code in 26 USCA 509(a)(3). A supporting organization either makes grants to, or performs the operations of, a public charity similar to a private foundation. However, unlike donations to a private foundation, donations to a supporting organization garner the same higher deduction rate as donations to public charities. However, supporting organizations allow less control over the organization to the founders than private foundations.
The Internal Revenue Code calls a public charity that relies on a supporting organization a "supported organization".
Read more about Supporting Organization (charity): History, Definition, Treasury Regulations, See Also
Famous quotes containing the words supporting and/or organization:
“It is handsomer to remain in the establishment better than the establishment, and conduct that in the best manner, than to make a sally against evil by some single improvement, without supporting it by a total regeneration.”
—Ralph Waldo Emerson (1803–1882)
“When a man’s partner’s killed, he’s supposed to do something about it. It doesn’t make any difference what you thought of him, he was your partner and you’re supposed to do something about it. As it happens, we’re in the detective business; well, when one of your organization gets killed, it’s, it’s bad business to let the killer get away with it. Bad all around. Bad for every detective everywhere.”
—John Huston (1906–1987)