501(c)(3) Status: PABC is an independent, non-profit organization, incorporated in Washington, DC, USA, on January 10, 2003. The U.S. Internal Revenue Service (IRS) classifies PABC as a not-for-profit 501(c)(3) corporation, signifying our status as an organization dedicated to public safety and service activities.
Status Impact: To qualify for and retain this status, the mission, organization and operational practices of PABC must comply with a number of special IRS requirements.
Status Benefits: In general, U.S. non-profit organizations are eligible to receive tax-deductible contributions from businesses and individuals that are part of the industry served by the non-profit organization. They can also collect funds for the services they provide. In addition, as a 501(c)(3), PABC is eligible to receive tax-deductible contributions from all donors, in or out of the aerospace industry, and grants from government agencies and other 501(c)(3) philanthropic groups.
Bottom Line: This status is important to accomplishing PABC's mission.