- Section 501(c)(3) is part of the Internal Revenue Code (IRC) and is a special tax category for non-profit organizations.
- Donated non-monetary items may require appraisal to determine their value.
- Philanthropy refers to charitable acts or other acts of kindness that help others or society as a whole.
- A qualified charitable organization is recognized as exempt from taxes when carrying out philanthropic, non-commercial or civic activities.
- A quid quo pro donation to charity is a donation for which the donor receives something of value in return.