Glossary Definition:

Non-profit Corporations: Non-profit corporations are typically organized as tax exempt organizations under section 501(c) of the Internal Revenue Code and are subject to the same general rules as for-profit corporations: they may not use general treasury funds for contributions, expenditures, or electioneering communications, but, with the exception of 501(c)(3) charities, they may set up a connected PAC to raise money for these purposes. Tax law, however, does not allow 501(c) organizations to have the influencing of elections as their primary purpose.

Statutes and/or Regulations:

Definition: 11 C.F.R. § 110.13(a)(1)

Distribution of Voting Information and Guides: 11 C.F.R. § 114.4(b)(5)(ii)

Independent Expenditures, when Permitted: 11 C.F.R. § 114.10

Related Forms and Official Notices by the IRS:

FEC Disclosure Form to Report Communications Costs by Corporations and Membership Organizations: Form 7 and Instructions

June 10, 2004 IRS Issues Letter on Exempt Organizations

Commentary:

"McConnell and the Code: Exempt Organizations and Campaign Finance", by Fran Hill

"Campaign Finance eGuide: Unions, Corporations, & Non-Profits," The Campaign Finance Institute