HUD 223(f) 501(c)(3)

What is a 501(c)(3) Organization?

What is a 501(c)(3) Organization?

501(3)(c) organizations are charitable entities (i.e. trusts, corporations, etc) that are exempt from paying federal income tax. 501(c)(3) is the most common type of nonprofit and/or charitable organization in the US. Common examples are churches, universities, and charitable foundations. Some 501(c)(3) organizations use HUD 223(f) loans to acquire or refinance affordable properties for certain underserved populations.