Small Block

Capital Absorption Opportunity · Tax-exempt organizations (26 U.S.C. § 501) · 501(c) Organizations

501(c)(7) Organizations

Definition

Social clubs: clubs organized for pleasure, recreation, and other nonprofitable purposes whose net earnings do not benefit any private shareholder; the paragraph has been in the Code since its 1954 enactment.[1]

Federal law

  1. Internal Revenue Code of 1954, Pub. L. 83-591, ch. 736, § 501, 68A Stat. 163. Enacted section 501(c)(7) as part of the Internal Revenue Code of 1954. Official text: govinfo.gov, U.S. Government Publishing Office.