What does it mean that we are a 501(c)(3) nonprofit?
The TMS Wiki is run by the PPD/TMS Peer Network, a federally approved IRS 501(c)(3) tax-exempt nonprofit organization. This means that contributions to the PPD/TMS Peer Network are tax deductible to the extent permitted by law and also means that the organization itself is exempt from income and other taxes.
A 501(c)(3) nonprofit is an organization that has met the criteria laid out in section 501(c)3 of the U.S. Internal Revenue Service Code. Types of organizations eligible for 501(c)(3) status include educational, religious, charitable, scientific, literary organizations and those for prevention of cruelty to children or animals. The PPD/TMS Peer Network has qualified since is inception because its purpose its educational: to increase awareness of mindbody illness. It is strictly a health-oriented educational organization whose services are entirely free to anyone in the world.
Another IRS provision, 26 U.S.C. § 170, provides a deduction, for federal income tax purposes, for some donors who make charitable contributions to most types of 501(c)(3) organizations. Regulations specify which such deductions must be verifiable to be allowed (e.g., receipts for donations over $250).
It is important that we are a 501(c)(3) because it shows the world that TMS is not a moneymaking scheme. This also helps with our core mission to educate people about TMS and represent the TMS cause.
To verify our 501(c)(3) tax exempt status, you can call IRS at 877-829-5500 or use the Exempt Organizations Select Check database at the Internal Revenue Service's website, IRS.gov:
http://www.irs.gov/Charities-&-Non-Profits/Organizations-Eligible-to-Receive-Tax-Deductible-Charitable-Contributions
A quick method to find the organization is to search for "TMS" in the name field. We are headquartered in Brookline, Massachusetts. You may leave the EIN field blank.
* This page is not meant to provide tax advice. For tax advice appropriate to your situation, consult a qualified tax professional.
