does not belong to those who created it
restricted to specific operations to receive tax exemptionsfinancial information is publicly accessibleexample of a 501 c 3 organizationthe american red cross established in 1881 and congressionally chartered in 1900 is one of the united states oldest nonprofit organizations 20 its mission statement says that the red cross prevents and alleviates human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors since its inception its goal has been to serve members of the armed forces and provide aid during disasters 21the red cross is located in 192 countries and operates the largest network of volunteers in the world this 501 c 3 organization is segmented into three divisions the national red cross and red crescent societies the international federation of red cross and red crescent societies and the international committee of the red cross 22the national red cross and red crescent societies include the american red cross they aim to relieve human suffering globally by empowering subordinate organizations to operate within their nation s borders to provide disaster relief education and other related services the international federation of red cross and red crescent societies provides global humanitarian aid during peacetime such as assisting refugees the international committee of the red cross provides humanitarian relief for people who are affected by war or other armed conflicts 22individuals who itemize their tax deductions can contribute to the red cross and claim the amount donated as a deduction 23 taxpayers who use the standard deduction could still claim up to 600 of their 501 c 3 contributions as a tax deduction in 2021 but this tax provision has expired 24