501(c)(3)
From OpenCouchSurfing.org, do not believe everything you read here as "the facts"!
Will CouchSurfing be a 501(c)(3)? If so, when?
Casey has been working on getting a 501c3 status in the whole of the US for the organization since the Montreal Collective, that ended August 2006. But as of August 2007 there have mostly been a lot of promises.
- 501(c)(3) in Brainstorm
What does 501(c)(3) status mean?
There appears to be conflicting information on the IRS web site. This page states:
"In addition, an organization's assets must be permanently dedicated to an exempt purpose. This means that if an organization dissolves, its assets must be distributed for an exempt purpose, to the federal government, or to a state or local government for a public purpose."
While this page talks about "Private foundation termination tax" and "The combined tax benefit resulting from the section 501(c)(3) status of the organization". This would suggest an organisation which holds 501(c)(3) status could dissolve that status, but would be liable to pay tax.
If anyone can find clarification on this subject, please post it here.
