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Q: Non Profit Organizations Credit Counseling ( Answered 5 out of 5 stars,   1 Comment )
Subject: Non Profit Organizations Credit Counseling
Category: Business and Money
Asked by: fastlex-ga
List Price: $10.00
Posted: 14 Oct 2004 17:37 PDT
Expires: 13 Nov 2004 16:37 PST
Question ID: 415055
why are credit counseling services non-profit organizations?  Are
there federal or state laws which prohibit a standard corporation from
lending advise regarding a consuer's credit?
Subject: Re: Non Profit Organizations Credit Counseling
Answered By: skermit-ga on 14 Oct 2004 18:14 PDT
Rated:5 out of 5 stars
I've found two great articles by the IRS which reference the laws
pertinent, and detail the steps needed for an organization to achieve
501(c)(3) status. Please read sections IV and V for the Federal and
State laws. The second link should be able to answer all the questions
you have on credit counseling non profit organizations.

IRS Takes Steps to Ensure Credit Counseling Organizations Comply With
Requirements for Tax-Exempt Status:,,id=114575,00.html

"In January 2003, EO published a 50-page Continuing Professional
Education article that reviewed the law in this area and provided
tools for reviewing applications by new organizations."

If you need Adobe Acrobat to read the article, please download it here:

Thank you for your question.

fastlex-ga rated this answer:5 out of 5 stars
Great articles.
Thank you!

Subject: Re: Non Profit Organizations Credit Counseling
From: cheaplaptopsnut-ga on 20 Oct 2004 21:11 PDT
More information is available at

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