Adherence to Council standards is an indication that a nonprofit has taken steps to align its policies and procedures with commonly accepted accountability standards. These standards have evolved over many years, with broad participation from Minnesota’s nonprofit and philanthropic communities. In the Council’s opinion, the standards represent reasonable measures of accountability. The standards as listed were developed January 1997, revised December 1997, adopted by Council Board of Directors, January 8, 1998.
Under the federal Internal Revenue Code (“IRC” or the “Code”), there are a number of provisions under which an organization can qualify for tax-exemption. Find out about the differences of tax-exempt organizations: 501(c)(3)(limited charitable purposes) and 501(c)(4)(social welfare organizations), 501(c)(5) and 501(c)(6). For more information visit the IRS website.
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