Every nonprofit organization is promoting rigorously to get donations. These donations are used to fight for a noble cause and help the poor. One of the non-profit organizations that have gained a huge prominence in the charity world is the International Fellowship of Christians and Jews. This IFCJ ratings organization has grown leaps and bounds since its inception in the year 1983. This is fighting poverty, helping war and terrorism victims and offering job aid to the immigrants of Israel. The main motto of this organization is to build a good relationship between Jewish and Christian community. This IFCJ ratings organization receives funds from the people globally.
The best part is that, it is offering tax exemption on the donated money. This is a win-win for both the donors and the charitable organization. The former can get a tax exemption and a sense of pleasure in helping the poor and the later can put this money to solve the issues that matter the most. This company has IRS 501 (c) (3) tax exemption status. This offers many benefits for the non-profit organization. The tax exemption status for the non-profit would offer many more benefits than just giving a tax break for the charity. People who are donating can tax federal and state tax exemption on the donated money. The donors who are itemizing donations can get a tax deduction for the donations. This is only given to the qualified charities who would submit their personal income taxes. The businesses would also get tax exemption on the money that they have donated to charities.
Charities that hold the tax exempt status can get grants from the foundations and governments to run the charity operations. These IFCJ ratings funds can only be accessed by the charities that have tax exempt status. It is important for the charitable organizations to meet three key criteria. Those include – political neutrality, asset test and make sure that the assets are spent only for the cause.