The Heritage Foundation is a tax-exempt organization operating under the nonprofit designation 501(c)3.
They have been tax-exempt since November 1973. EIN: 23-7327730
What does that mean?
They Don't Pay Taxes
501(c)(3) nonprofits don't pay federal income taxes because they are supposed to be dedicated to charitable, religious, educational, or scientific causes that benefit the public, allowing them to use their funds to further their mission rather than paying taxes.
Donations are Tax Deductible
Donations to 501(c)(3) nonprofits are tax deductible because the government wants to incentivize charitable giving and support organizations that provide public benefits, allowing donors to reduce their taxable income when they contribute to qualifying nonprofits.
Their Filings are Public
Tax-exempt organizations have to file yearly with the IRS using Form 990. Their filings are made public for several reasons including: transparency and accountability, oversight, informed decision-making, and public trust.
