Intermountain Therapy Animals is a 501(c)(3) organization. What does that mean?
The term “501(c)(3) organization” is something you hear a lot in the world of charitable groups. It refers to the Internal Revenue Service’s tax code and the designation it grants to operate as a nonprofit corporation, and accept contributions from the public, without paying taxes. It’s important to know if a group has earned a 501(c)(3) tax status before you give it your money, because the IRS will not let you count your contributions as a tax deduction unless they are given to groups which it recognizes as worthy of nonprofit tax status. In giving up the power to tax any corporation, and granting the right of tax deductibility to those who give it gifts, federal and state government taxing authorities are making tremendous concessions and bestowing a great deal of indirect financial assistance on nonprofit organizations. Getting a 501(c)(3) status is difficult, and it should be. It requires extensive evaluation and analysis, and authorities must rule that an organization has a missio
