501(c)(3)s and Land Trusts

A 501(c)(3) organization is designated a ‘public charity’ by the Internal Revenue Service. A non-profit organization must be organized and operated exclusively for specific charitable purposes. No individual or shareholders may inure any of the profits generated by the organization. In addition, non-profit organizations cannot be an ‘action’ organization. They cannot attempt to influence legislation, participate in campaign activity, or hold a position on political candidates. Those who donate time, money or material to non-profit organizations may be eligible for a tax deduction