HELPS Resource Center, Inc. is a qualifying entity whose received a 501(c)(3) status, and is recognized by the IRS through Form 1023, Application for Recognition of Tax Exemption. HELPS has been thoroughly examined for our organization’s structure, governance and programs and granted a 501(c)(3) status.
501(c)(3) Public Charity Organization
A public charity is defined by the IRS as “not a private foundation”. HELPS receives a substantial portion of its revenue from the general public or from the government. In order to remain a public charity HELPS must obtain at least 1/3 of its donated revenue from public support. Public support can be from individuals, companies and/or other public charities.
Having 501(c)(3) status comes with compliance requirements within the IRS regulations, and additional compliance requirements that exist at the state level. The HELPS organizations must file some version of Form 990 with the IRS each year.
Unique to 501(c)(3)
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. Donations to public charities can be tax deductible to the individual donor up to 50% of the donor’s income. Corporate limits are generally 10%.
According to IRS regulations, in order to receive a tax deduction for donations to a non-profit organization, control of those funds must be given to the leadership of the non-profit. To facilitate your participation in giving, the HELPS RESOURCE CENTER’s Board has set up specific funds to which you can direct your donations.