Sections irs form 8871 pdf through 505 set out the requirements for attaining such exemptions. Business Leagues, Chambers of Commerce, Real Estate Boards, etc.
Apostolic organizations with the purpose of operating a religious community where the members live a communal life following the tenets and teachings of the organization. The organization’s property is owned by each of the individuals in the community but, upon leaving, a member cannot withdraw any of the community’s assets. The organization’s income goes into a community treasury that is used to pay for the organization’s operating expenses and supporting members and their families. Cooperative hospital service organizations that are organized to provide services for multiple tax-exempt hospitals. Cooperative service organizations of educational organizations that invest assets contributed by each of the organization’s members.
Amateur sports organizations that either conduct national or international sporting competitions or develop amateur athletes for national or international sporting competitions. The day care center must provide child care away from their homes. At least 85 percent of the children served must be cared for while their parent or guardian is either employed, seeking employment, or a full-time student. Most of the day care center’s funding must come from fees received for day care services.
The day care center must also provide child care services to the general public. Charitable risk pools that pool insurable risks of its members, which are tax-exempt charities. Farmers’ cooperative associations that market its member farmers’ products at market rates, make purchases at wholesale rates, and remit earnings to member farmers. Homeowner associations, condominium management associations, residential real estate management associations, and timeshare associations may elect to be exempt from income tax on their exempt-function income under Section 528. Non-exempt charitable trusts that have exclusively charitable interests.
A professional sports league’s exemption is not to be jeopardized because its primary source of revenue is the sale of television broadcasting rights to its games because the broadcasting of games increases public awareness of the sport. A process of admission — or recreational purposes. Cooperative hospital service organizations that are organized to provide services for multiple tax, subchapter T Cooperatives: Section 1. Accessed on June 29, failure to file such timely returns and to make other specific information available to the public also is prohibited.
5,000 may also trigger special filing and record-keeping requirements. 25,000 in gross income yearly. Form 990, Form 990-EZ, and Form 990-PF may be filed either by mail or electronically through an authorized e-file provider. Exempt or political organizations, excluding churches or similar religious entities, must make their returns, reports, notices, and exempt applications available for public inspection.