All organizations that are exempt from Federal income tax are "charities."

Question

Quizplus · Accepted Answer

Not all organizations exempt from Federal income tax are charities. Many types of organizations can be exempt, including charities, but also including other types such as social welfare organizations, labor unions, trade associations, and more, under different sections of the Internal Revenue Code (e.g., 501(c)(3) for charities, 501(c)(4) for social welfare organizations, etc.).

All Organizations That Are Exempt from Federal Income Tax Are