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LSDefine

Simple English definitions for legal terms

charitable corporation

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A quick definition of charitable corporation:

A charitable corporation is a type of organization that is set up to help others. It is a special kind of company that is allowed to do good things without having to pay taxes. Charitable corporations can be set up for many different reasons, like to help people who are sick, to protect animals, or to support education. They cannot use their money to help just one person or family, and they cannot get involved in politics. Charitable corporations are also called charities or 501(c)(3) organizations.

A more thorough explanation:

A charitable corporation is a type of corporation that is organized and operated for charitable purposes. Charitable corporations are eligible for tax-exempt status and are subject to certain regulations and requirements.

  • 501(c)(3) organization: A nonprofit organization that is organized and operated exclusively for religious, scientific, literary, educational, athletic, public-safety, or community-service purposes, and does not distribute earnings for the benefit of private individuals, or participate in political campaigns or substantial lobbying.
  • Charitable gift: A donation made to a charitable organization for the purpose of supporting its charitable activities.
  • Charitable deduction: A tax deduction that allows taxpayers to deduct charitable contributions from their taxable income.

These examples illustrate the definition of a charitable corporation by showing different aspects of its operations and benefits. A 501(c)(3) organization is a specific type of charitable corporation that is eligible for tax-exempt status. Charitable gifts are a way for individuals to support charitable organizations, while charitable deductions provide a tax benefit for those who make such donations.

charitable bequest | charitable purpose

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JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
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