Re:IRS records reveal how the wealthiest avoid income tax
by lordlimecat on Tuesday June 08, 2021 @09:34AM
(#27434960)
Not a tax lawyer but I'm pretty sure there are regulations around what it means to be a charitable organization according to the IRS.
For instance, I'm fairly certain that using the money in a way that provides you a tangible benefit is verboten, as is taking a deduction for a "donation" to said charity that results in a tangible benefit.
Whether these things are enforced or violated is another question; but it does not seem reasonable to assume that every such organization operates by fraud, nor that getting rid of all of them would be no loss.
For instance, I'm fairly certain that using the money in a way that provides you a tangible benefit is verboten, as is taking a deduction for a "donation" to said charity that results in a tangible benefit.
Whether these things are enforced or violated is another question; but it does not seem reasonable to assume that every such organization operates by fraud, nor that getting rid of all of them would be no loss.