501(c)(3) Non Profit Organization
501(c)(3) exemptions apply to corporations, and any community chest, fund, cooperating association or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes.
The two exempt classifications of 501(c)(3) organizations are as follows:
A public charity (the Humble Heroes Foundation), identified by the Internal Revenue Service (IRS) as "not a private foundation", normally receives a substantial part of its income, directly or indirectly, from the general public or from the government. The public support must be fairly broad, not limited to a few individuals or families. Public charities are defined in the Internal Revenue Code under sections 509(a)(1) through 509(a)(4).
A private foundation, sometimes called a non-operating foundation, receives most of its income from investments and endowments. This income is used to make grants to other organizations, rather than being dispersed directly for charitable activities. Private foundations are defined in the Internal Revenue Code under section 509(a) as 501(c)(3) organizations, which do not qualify as public charities.
Provision 26 U.S.C. § 170 provides a deduction for federal income tax purposes for some donors who make charitable contributions to most types of 501(c)(3) organizations, among others. Regulations specify which such deductions must be verifiable to be allowed (e.g., receipts for donations over $250). Due to the tax deductions associated with donations, loss of 501(c)(3) status can be highly challenging to a charity's continued operation, as many foundations and corporate matching programs do not grant funds to a charity without such status, and individual donors often do not donate to such a charity due to the unavailability of the deduction.
Before donating to a 501(c)(3) organization, a donor may wish to review IRS Publication 78, which lists organizations currently exempt under 501(c)(3). Donors may also verify 501(c)(3) organizations on the web-based, searchable IRS list of charitable organizations as well as on lists maintained by the states, typically on states' Departments of Justice websites. Churches, however, have specific requirements to obtain and maintain tax exempt status; these are outlined in IRS Publication 1828: Tax guide for churches and religious organizations. This guide clearly outlines activities allowed and not allowed by churches under the 501(c)(3) designation. A private, nonprofit organization, GuideStar, also provides reputable and detailed results for web-based searching to verify information on 501(c)(3) organizations.
View Financial Information for the Humble Heroes Foundation
Humble Heroes Foundation financial information will be available through Guidestar. Once we file our first filing, you will type "Humble Heroes Foundation" in the "GuideStart It" search tool at the top right side of the webpage. Currently there are no filings for Humble Heroes Foundation available for viewing.
GuideStar provides searchable data from IRS Forms 990 and the IRS Business Master File, including comprehensive facts on employee compensation and grant activity.
GuideStar was established to create a more transparent and accountable nonprofit community. Nonprofits embrace this practice of transparency and accountability when they share information about their mission, programs, and finances with the public.
501(c)(3) exemptions apply to corporations, and any community chest, fund, cooperating association or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes.
The two exempt classifications of 501(c)(3) organizations are as follows:
A public charity (the Humble Heroes Foundation), identified by the Internal Revenue Service (IRS) as "not a private foundation", normally receives a substantial part of its income, directly or indirectly, from the general public or from the government. The public support must be fairly broad, not limited to a few individuals or families. Public charities are defined in the Internal Revenue Code under sections 509(a)(1) through 509(a)(4).
A private foundation, sometimes called a non-operating foundation, receives most of its income from investments and endowments. This income is used to make grants to other organizations, rather than being dispersed directly for charitable activities. Private foundations are defined in the Internal Revenue Code under section 509(a) as 501(c)(3) organizations, which do not qualify as public charities.
Provision 26 U.S.C. § 170 provides a deduction for federal income tax purposes for some donors who make charitable contributions to most types of 501(c)(3) organizations, among others. Regulations specify which such deductions must be verifiable to be allowed (e.g., receipts for donations over $250). Due to the tax deductions associated with donations, loss of 501(c)(3) status can be highly challenging to a charity's continued operation, as many foundations and corporate matching programs do not grant funds to a charity without such status, and individual donors often do not donate to such a charity due to the unavailability of the deduction.
Before donating to a 501(c)(3) organization, a donor may wish to review IRS Publication 78, which lists organizations currently exempt under 501(c)(3). Donors may also verify 501(c)(3) organizations on the web-based, searchable IRS list of charitable organizations as well as on lists maintained by the states, typically on states' Departments of Justice websites. Churches, however, have specific requirements to obtain and maintain tax exempt status; these are outlined in IRS Publication 1828: Tax guide for churches and religious organizations. This guide clearly outlines activities allowed and not allowed by churches under the 501(c)(3) designation. A private, nonprofit organization, GuideStar, also provides reputable and detailed results for web-based searching to verify information on 501(c)(3) organizations.
View Financial Information for the Humble Heroes Foundation
Humble Heroes Foundation financial information will be available through Guidestar. Once we file our first filing, you will type "Humble Heroes Foundation" in the "GuideStart It" search tool at the top right side of the webpage. Currently there are no filings for Humble Heroes Foundation available for viewing.
GuideStar provides searchable data from IRS Forms 990 and the IRS Business Master File, including comprehensive facts on employee compensation and grant activity.
GuideStar was established to create a more transparent and accountable nonprofit community. Nonprofits embrace this practice of transparency and accountability when they share information about their mission, programs, and finances with the public.
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Approximate figures of funds raised and distributed:
Total Funds Raised: just over $725k
Scholarships: $400k
Welcome Home Soldier: $110k
Puppy Jake: $80k
Other Disabled Veteran Groups: $55k
Reserve Funds: $80k
Total Funds Raised: just over $725k
Scholarships: $400k
Welcome Home Soldier: $110k
Puppy Jake: $80k
Other Disabled Veteran Groups: $55k
Reserve Funds: $80k