Musiad Corp

Musiad Corp is a nonprofit organization designated as a 501(c)(6) entity, which includes business leagues, chambers of commerce, and real estate boards created to improve business conditions. It falls under the categories of Community Improvement and Business and Industry as defined by the NTEE (National Taxonomy of Exempt Entities)[1].

Organization Overview

Musiad Corp is affiliated with the Independent Industrialists and Businessmen's Association (MÜSİAD), a Turkish business organization. However, Musiad Corp is specifically registered in the United States. The organization is not listed in the IRS's most recent list of tax-exempt organizations, suggesting it may not be currently active or recognized by the IRS[1].

Financial Activity

Historically, the primary source of revenue for Musiad Corp has been contributions. In past years, such as 2015 and 2016, the organization also generated some revenue from program services. In 2018, all of its revenue was derived from contributions. The organization's financial data indicate minimal assets and no liabilities over the years, with total assets reported as $1,051 in 2018[1].

Leadership

Key figures in Musiad Corp have included Mustafa Tuncer, who served as President, and Ibrahim Uyar, who served as Vice President. Neither received compensation for their roles during the reported periods[1].

Tax Deductibility

Donations to Musiad Corp are not tax-deductible, as is typical for organizations classified as 501(c)(6)[1].

Affiliation

While Musiad Corp does not appear to be currently active or recognized by the IRS, MÜSİAD USA, a separate entity, continues to operate as a business association aiming to enhance economic and political ties between Turkey and the United States[3][5].