501C's & misc groups
To me a 501c organization is a big deal. A lot of really good group are setup with this setup. 501c3 is the one a lot of groups would like to be.
This page ties into https://www.cjflynn.com/e/non-commercial-values
501(c)(1)
Federal Credit Union
Organized Under Act of Congress.
based on The Necessary and Proper Clause, also known as Article I, Section 8 of the United States Constitution that is as follows:
The Congress shall have Power ... To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government
Alexander Hamilton wanted to setup a national banking system and when for Profit banks say National or Federal in their name then it would tie into the above.
of the United States, or in any Department or Officer thereof.
I am a member of First Federal Credit Union, one of only two federally chartered credit unions in the state of Iowa.
Website https://www.firstfedcu.com/ For loans saving and checking accounts along with basic credit cards this place is good.
For IRA's and other long term investments I would recommend Vanguard Group. https://investor.vanguard.com/home
If you are a Member of a labor union that is AFL-CIO https://www.aflcioefcu.org/become-a-member/
501(c)(3)
When people hear the words non-profit this is what first comes to mind. when you give to these groups your money is tax deductible. As I was working on this a lot of these groups cross over some can be educational and still help animals etc.. Some groups have been granted a congressional charter from Title 36 of the United States Code. groups like the Red Cross and a lot of other groups fall under that banner. https://en.wikipedia.org/wiki/Title_36_of_the_United_States_Code
Religious
All churches such as the Salvation Army and the Unitarian Universalist. Bible Study groups Christian Youth groups.
Educational
All schools that are either government run with direct tax dollars such as public k-12 education. Community colleges and Public state university.
The John C. Bogle Center for Financial Literacy is an IRS-approved 501(c)(3) charitable organization. The Center was established to continue Vanguard founder John C. Bogle’s crusade to see that investors get their fair share of market returns and to raise the level of financial literacy for all investors so they can realize their goals and achieve financial independence. they also sponsor https://www.bogleheads.org/index.php
Charitable
When you give stuff to Goodwill or the Salvation Army stores.
https://www.salvationarmyusa.org/usn/
Scientific,
OBSERVATORY AT PALISADES-DOWS PRESERVE
https://www.cedar-astronomers.org/pal-dows-observatory
Literary,
libraries and groups like the Little Free libraries
https://littlefreelibrary.org/
Testing for Public Safety
Two groups come to mind for me with this topic UL & Consumer Reports.
I grew up reading Consumer Reports magazine I have always liked that group. the staff is under a union contact by CWA the same union I was a member of.
UL is a global safety consulting and certification company headquartered in Northbrook, Illinois. It maintains offices in 46 countries. Established in 1894 as the Underwriters' Electrical Bureau (a bureau of the National Board of Fire Underwriters),[1] it was known throughout the 20th century as Underwriters Laboratories and participated in the safety analysis of many of that century's new technologies
https://en.wikipedia.org/wiki/Nationally_Recognized_Testing_Laboratory
Foster National or International Amateur Sports Competition
https://en.wikipedia.org/wiki/United_States_Olympic_Committee
Prevention of Cruelty to Children or Animals Organizations
Cedar Valley Humane Society
For kids and women
http://www.waypointservices.org/
501(c)(4)
– Civic Leagues, Social Welfare Organizations, and Local Associations of Employees
I was a card carrying member of the ACLU and thus would support a group under this code.
https://www.aclupa.org/abouttheaclu/aclu-vs-aclu-foundation
501(c)(5)
– Labor, Agricultural and Horticultural Organizations
Labor
I was a member of the Communications Workers of America. The CWA represents workers in the telecommunications field and have done so since 1947. American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) is the largest federation of unions in the United States. CWA is a affiliated union. At one point private sector unions were a lot bigger and more powerful than they are today.
The NEA has a membership of just under 3 million people. The NEA is incorporated as a professional association in a few states and as a labor union in most. The group holds a congressional charter under Title 36 of the United States Code. It is not a member of the AFL–CIO, but is part of Education International, the global federation of teachers' unions. They were also granted a congressional charter from Title 36 of the United States Code.
Agricultural
I am a member of Iowa Farm Bureau https://www.iowafarmbureau.com/Member-Benefits It cost about $40 a year for membership Not sure about their insurance but their subsidy program for gym memberships etc...
The American Farm Bureau Federation The Grange, officially referred to as The National Grange of the Order of Patrons of Husbandry, is a fraternal organization in the United States that encourages families to band together to promote the economic and political well-being of the community and agriculture. The Grange, founded after the Civil War in 1867, is the oldest American agricultural advocacy group with a national scope. The Grange actively lobbied state legislatures and Congress for political goals, such as the Granger Laws to lower rates charged by railroads, and rural free mail delivery by the Post Office.
Horticultural
I am not a member of any of these but I find them interesting
Becoming a Master Gardener
https://www.extension.iastate.edu/mastergardener/
or a local garden club http://www.cedarrapidsgardenclub.com/
501(c)(6)
– Business Leagues, Chambers of Commerce, Real Estate Boards, etc.
I was in Youth Leadership for Five Seasons when I was in high school. I have gone to impact CR for a number of years. both of those events were put together by the Chamber of Commerce.
https://www.cedarrapids.org/business-resources/programs-and-networking/leadership
https://www.iowarealtors.com/about-us/local-boards
501(c)(7)
– Social and Recreational Clubs
I am a member of the Mindbridge Foundation. They sponsor IOCN Iowa an Iowa science fiction and fantasy convention.
Mindbridge is a 501(c)7 not-for-profit organization.
I also bought a life membership to a gun club that is a 501c7 too.
https://info.legalzoom.com/benefits-501c7-taxexempt-club-21731.html
501(c)(8)
– Fraternal Beneficiary Societies and Associations
I was a member of The Elks BPOE my grandfather and a lot of my family were also members of this group I joined in 2022.
Other Groups that are 501c8 are Knights of Columbus,Thrivent, Western Fraternal Life etc... https://www.elks.org/
https://en.wikipedia.org/wiki/American_Fraternal_Alliance
501(c)(10)
– Domestic Fraternal Societies and Associations
I am a Master Mason thus a member of the Freemason of Iowa. under the governce of the Grand Lodge of Iowa I joined back in 2009.
501(c)(12)
– Benevolent Life Insurance Associations, Mutual Ditch or Irrigation Companies, Mutual or Cooperative Telephone Companies, etc.
the two main ones that come to my mind are Power and Telecom co-ops
REC
the rural electric cooperatives were started during the Great Depression as a New Deal agency. at the time 90% of urban Americans had electricity but 90% of rural Americans did not the act that created this https://en.wikipedia.org/wiki/Rural_Electrification_Act
https://www.law.cornell.edu/uscode/text/7/chapter-31
Examples
Linn County REC https://www.linncountyrec.com/your-cooperative/cooperative-information/
Telecom Co-ops
the REA law was updated to extend the act to allow loans to telephone companies wishing to extend their connections to unconnected rural areas.
I worked at a telephone cooperative. I have been interested in this business structure since I was in high school and I did enjoy working for the co-op overall but enoy working from home more :)
https://www.ntca.org/ruraliscool/who-we-e NTCA has a self-funded Health Insurance and their own Pension Fund Not a 401K
http://reic.uwcc.wisc.edu/telephone/
243 - Statement by the President Upon Signing Bill Providing for Improved Rural Telephone Facilities.
October 28, 1949 Link https://www.trumanlibrary.gov/library/public-papers/243/statement-president-upon-signing-bill-providing-improved-rural-telephone
501(c)(13)
– Cemetery Companies
My parents and I have a family burreal plot in a township cemetery that goes back to the 1840's and is near where I live and grew up. We all also have prepaid cremation plans with a membership in the Iowa Cremation Society.
No one really thinks about who owns the cemetery but having these groups setup help preserve history and loved ones.
501(c)(14)
– State-Chartered Credit Unions, Mutual Reserve Funds
Most credit unions in the state of Iowa are setup under this Charter. For loans saving and checking accounts along with basic credit cards this place is good. but for IRA's and other long term investments I would recommend Vanguard Group
https://www.iowacreditunions.com
501(c)(15)
– Mutual Insurance Companies or Associations
South Florida Dentists Insurance Trust they are a SELF INSURANCE TRUST for malpractice or other really small groups.
501(c)(16)
– Cooperative Organizations to Finance Crop Operations
A group that would fall under this is https://www.fcsamerica.com/ they fall under the Farm credit Administration https://www.fca.gov/
501(c)(17)
– Supplemental Unemployment Benefit Trusts
Builders and Contractors Supplemental Unemployment Benefits Trust what a lot of the union building trades guys use when they get laid off.
501(c)(18)
Employee Funded Pension Trust
Pension funds created before 1959 think teamsters and other union pension funds
501(c)(19)
Post or Organization of Past or Present Members of the Armed Forces veteran groups like Legion VFW etc https://www.legion.org/ I went to Iowa Boys State when I was in high school https://www.ialegion.org/boysstate/ I feel that it helped me with understanding how voting works etc..
501(c)(23)
this is for veteran groups that were established before 1880 and are more insurance based than social halls and meetings like the legion such as https://www.navymutual.org/
501(c)(26)
– State-Sponsored Organization Providing Health Coverage for High-Risk Individuals
Iowa Comprehensive Health Association (HIPIOWA
501(c)(29). This tax-exempt status is part of the Affordable Care Act and comprises nonprofit health insurance issuers who receive loans or grants under Medicare or Medicaid services co-op program tax exemption.
https://acorncommunity.org/legal/
527
A 527 organization or 527 group is a type of U.S. tax-exempt organization organized under Section 527 of the U.S. Internal Revenue Code (26 U.S.C. § 527). A 527 group is created primarily to influence the selection, nomination, election, appointment or defeat of candidates to federal, state or local public office. https://www.opensecrets.org/527s/basics.php
Acorn is organized as a 501(d) non-profit organization. This tax status, created for the Shakers or monastery’s, is a super obscure tax status applicable only to religious organizations with a common treasury.
Solidarity economy
Fair trade organizations form part of the solidarity economy as their aim is to express practical solidarity with farmers in the developing world by paying them fair prices for their produce.
Self-help organizations also form part of the solidarity economy as members support each other in dealing with their problems as a practical form of solidarity.
Co-operatives and especially worker-owned cooperatives form part of the solidarity economy if their aims include a commitment to solidarity in some form.
Trade unions are often considered a key part of the solidarity economy as they are based on the principle of solidarity between workers.
Free software movement, open source development and other forms of commons-based peer production.
Social center
Give-away shops and other forms of gift economy
Global Social Economy Forum
Local exchange trading systems (LETS) as a way of replacing money.
Solidarity lending
Ethical purchasing
Economy for the Common Good
https://en.wikipedia.org/wiki/Solidarity_economy
IPERS the Iowa public employees pension fund would fall under this title it was created in 1953 https://ipers.org/
Additional Cooperatives of Eastern IOWA
NewPi Food Co-op
a consumer co-op stared in 1971 with locations in CR IC & Coralville. I'm a member owner of this Co-op.
Linn County Oil Cooperative
an agriculture co-op started in 1930 a member owner nonprofit
Linn Co-op also had some legal troubles
https://givebutter.com/blog/types-of-nonprofits#:~:text=The%20501(c)(23,to%20their%20members%20and%20dependents.
https://www.moneycrashers.com/food-coop-costs-benefits-drawbacks/