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:
“There would be no supporting life were we to feel quite as poignantly for others as we do for ourselves.”
—Samuel Richardson (1689–1761)
“One of the many reasons for the bewildering and tragic character of human existence is the fact that social organization is at once necessary and fatal. Men are forever creating such organizations for their own convenience and forever finding themselves the victims of their home-made monsters.”
—Aldous Huxley (1894–1963)