Question

Any donations to a __________ will be tax deductible for the person making the donation; charities or charitable components make up the vast majority of organizations in this category.

A. 501(c)(3) organization
B. limited liability corporation
C. 501(c)(6) organization
D. corporation

Answer 1

Donations to a 501(c)(3) organization are tax deductible, and charities or charitable components are part of this category of organizations.

Step-by-step explanation:

Any donations to a 501(c)(3) organization will be tax deductible for the person making the donation. Donations to a 501(c)(3) organization are tax deductible, and charities or charitable components are part of this category of organizations.

Charities or charitable components make up the vast majority of organizations in this category. Non-profit organizations such as welfare groups, churches, hospitals, schools, museums, civic organizations, fraternal organizations, veterans organizations, and social clubs fall under this category.

They are set up to provide goods and services to their members or participants to better their lives or improve a particular outcome, such as education or health. If these organizations generate profit, the money is reinvested or used to expand their services.