We all work together to make sure everyone has enough.
We all work together to make sure everyone has enough.
The 501(d) business advantage.
The 501(d) status provides tax exemptions for religious and apostolic communities that share a common treasury. The IRS has failed to define religious/apostolic and thus the terms can be construed to mean any strongly held spiritual or secular belief. The business that the community decides to operate is not taxable as long as all the proceeds are deposited into the designated common treasury and distributed. This includes all income whether produced through the community’s revenue source or by the individual. The community’s business can have either a not for profit or a for profit purpose. The 501(d) exemption does not have any restrictions on political activity, unlike the 501(c)(3). In addition donations made to the community are not tax exempt.
|
Advantages of a 501(d):
|
Examples of Successful 501(d) Businesses
East Wind Nutbutters
Southern Exposure Seed Exchange Commonwealth Seed Growers Twin Oaks Hammocks and Twin Oaks Tofu |
Since 1980
Since 1999 Since 2008 Since 1967 Since 1991 |
Supports 65 people.
Supports 32 people. Supports 15 people. Together support 105 people. |