IRS Figures Show Charity Creation May Be Slowing After Years of Fast Growth
The number of charities and foundations in the U.S. reached nearly 1.3 million in 2010, according to new data released by the IRS.
That number will probably drop sharply later this year when the IRS is expected to rescind the charity status of small organizations that failed to file an informational tax form. Even without this change, the latest IRS figures signal a possible slowing in the number of charities created in the U.S.: 59,945 groups applied for nonprofit status in 2010, down 30 percent since 2007.
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%0D%0A%20%20That%20number%20will%20probably%20drop%20sharply%20later%20this%20year%20when%20the%20IRS%20is%20expected%20to%20rescind%20the%20charity%20status%20of%20small%20organizations%20that%20failed%20to%20file%20an%20informational%20tax%20form.%20Even%20without%20this%20change,%20the%20latest%20IRS%20figures%20signal%20a%20possible%20slowing%20in%20the%20number%20of%20charities%20created%20in%20the%20U.S.%3A%2059,945%20groups%20applied%20for%20nonprofit%20status%20in%202010,%20down%2030%20percent%20since%202007.%0D%0A<%2Fp>%0D%0A
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