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What is the Lompico Community Center

 

 

 

The Lompico Community Center is a public benefit nonprofit 501(c)(3) corporation.

While the LCCs focus is primarily on the park and community events it may engage in other activities, as determined by its board of directors, that benefit the Lompico community.

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DEFINITIONS

Lompico is generally defined as the area accessed by Lompico Road in Santa Cruz County, California.

A public benefit nonprofit corporation is what people think of when they think nonprofit.  It is a charity that is advantageous to the public at large, meaning that anyone could benefit from the actions of the nonprofit. Public benefit nonprofits usually engage in activities that are involved with social services, the arts, health, education, and other activities to improve the quality of life for those in their community. These types of nonprofits are generally formed to be 501c3 IRS tax-exempt. A public benefit nonprofit cannot participate in political campaigns or donate money or benefit any candidate running for political office. Most nonprofits in the US are public benefit, and they receive funding via public donation, government grants, and fundraisers.

Section 501(c)(3) is the portion of the US Internal Revenue Code that allows for federal tax exemption of nonprofit organizations, specifically those that are considered public charities, private foundations or private operating foundations. It is regulated and administered by the US Department of Treasury through the Internal Revenue Service.