Fresh Hope Produce – An approved 501(c)(3) Non-Profit Charity as defined by the Internal Revenue Service
Fresh Hope Produce, Inc. was approved for a federal tax designation called 501(c)(3). Non-profit organizations that apply for this designation are religious, charitable, or educational groups. To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual. In addition, it may not be an , i.e., it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates.
Organizations described in section 501(c)(3) are commonly referred to as charitable organizations. The IRS has determined that Fresh Hope Produce, Inc is a Public Charity. Organizations described in section 501(c)(3), other than testing for public safety organizations, are eligible to receive tax-deductible in accordance with Code section 170.
The organization must not be organized or operated for the benefit of, and no part of a section 501(c)(3) organization's net earnings may inure to the benefit of any private shareholder or individual. If the organization engages in an excess benefit transaction with a person having substantial influence over the organization, an excise tax may be imposed on the person and any organization managers agreeing to the transaction.
Section 501(c)(3) organizations are restricted in how much political and legislative (lobbying) activities they may conduct.
For more information about charitiable organizations visit - www.irs.gov/charities/charitable.