Grant Term

The US Internal Revenue Service (IRS) tax code defines tax-exempt organizations, and IRS code 501(c)(3) defines the rules that charitable tax-exempt organizations must follow. See https://www.irs.gov/publications/p557/ch03.html for lots of gory details!

Many grants specify that they can only be given to 501(c)(3) organizations rather than for-profit organizations.

Don Gooding

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