RE: Yearly cost of religious tax exemptions
September 1, 2012 at 6:48 pm
(This post was last modified: September 1, 2012 at 7:14 pm by Angrboda.)
(September 1, 2012 at 4:42 pm)Rhythm Wrote: So, late addendum, as far as non-profits and whether or not that should deflect criticism. I run a non-profit, and I turn a greater (personal) profit from this than the large majority of US citizens can cobble together in "for-profit" wages.
Not-for-profit definitely doesn't mean that no profit is being made, not by a longshot.
Yes, I believe the specific criterion is that the profits of the enterprise not go to the financial inurement of a private individual or small group of such.
(IRS.GOV) Exemption Requirements - Section 501(c
IRS Wrote:The organization must not be organized or operated for the benefit of private interests, and no part of a section 501(c)(3) organization's net earnings may inure to the benefit of any private shareholder or individual.
Oh, and the IRS and the government do go after some, e.g. Ken Ham and Scientology, to mixed results. The unfortunate fact, perhaps, is that these are difficult and expensive court cases, fighting organizations that have the money to spend, and plenty of support (and often run by clever and savvy criminals). However, an entire class of organizations shouldn't be disallowed for the abuses of the few. (And the American Atheists, the Democratic Party, the Republican Party and the Green Party don't serve 'everyone' either. [Political parties are 501(c)(6) if I recall rightly.] I don't know offhand whether PACs are section 501 organizations, but it wouldn't surprise me.)
(ETA: PACs are tax exempt, but under section 527 of the tax code. I recall political parties being 501(c)(6), but without doing further research, I'd have to say it's not entirely clear at this point.)