Word: tax-exempt
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...these circumstances, Democrats have spent the past year searching for exemptions in the McCain-Feingold campaign-finance-reform law that they themselves had long championed. One method they are banking on: a network of new organizations known as 527s (after the section of the IRS code that gives them tax-exempt status), which can raise unlimited money for advertising and voter-registration efforts, as long as they don't coordinate with the candidate. But that strategy faces a crucial test this week at the Federal Election Commission...
...courtesy of Fried. You could say he was the founder, president, CEO, CFO, general manager and head coach of this outfit. In fact, the Crimson City Hockey Clinic might become a non-profit organization in the official sense. Yesterday Fried filed paperwork with the IRS in hopes of achieving tax-exempt status...
...past 25 years, the black middle class has grown exponentially in the South--which is another reason black voters no longer need ministers to put up stained-glass voting instructions. Black churches have also turned down their political megaphones since they saw that the Christian Coalition lost its tax-exempt status in 1999 as a result of its political activities. In any case, younger African Americans are less likely to be in church--and less likely to automatically vote Democratic. "Older voters view it as a sacred responsibility to vote. They're closer to the civil-rights movement," says Democratic...
...Justice Department is now pressing criminal charges against Greenpeace for authorizing the protest. If found guilty, the group could lose its tax-exempt status...
...record high, federal regulators issued a rare joint advisory last week warning the millions of Americans who turn to credit-counseling agencies each year to make sure they are dealing with legitimate nonprofits. The IRS is auditing a number of debt consolidators to see if they are abusing their tax-exempt status. Red flags to look...