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Frequently Asked Questions > Special Needs Trust > Is the Special Needs Trust a tax exempt charitable organization, i.e. a "501(c)(3)"?

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No. Donations to the Trust are for Fallyn McNamara's benefit and are not tax-deductible under section 501(c)(3) of the Internal Revenue Code. As explained on the IRS' website:

A section 501(c)(3) organization must not be organized or operated for the benefit of private interests, such as the creator or the creator's family, shareholders of the organization, other designated individuals, or persons controlled directly or indirectly by such private interests. No part of the net earnings of a section 501(c)(3) organization may inure to the benefit of any private shareholder or individual. A private shareholder or individual is a person having a personal and private interest in the activities of the organization.



Last updated on April 28, 2009 by