American Purpose LLC

American Purpose LLC is a U.S. nonprofit organization designated under Section 501(c)(3) of the Internal Revenue Code. This classification allows the organization to operate as a tax-exempt entity, primarily focused on educational and charitable purposes. As such, donations to American Purpose LLC are tax-deductible for donors.

Purpose and Activities

American Purpose LLC is categorized under the National Taxonomy of Exempt Entities (NTEE) as a Human Service Organization - Multipurpose. This indicates that the organization engages in a broad scope of activities aimed at serving diverse human needs.

Financial Overview

Financial reports indicate that American Purpose LLC derives most of its revenue from contributions, with a small portion coming from program services. In recent years, the organization has seen growth in total assets, with significant increases from fiscal year 2020 to 2022.

Leadership and Governance

Key figures in the organization include Victor Jeffrey Gedmin, who serves as President and receives compensation for his role. Other notable officers, such as Francis Fukuyama and Raymond Craig Kennedy, serve as Secretary and Treasurer, respectively, without reported compensation.

Compliance and Transparency

Like all 501(c)(3) organizations, American Purpose LLC must comply with IRS regulations, including restrictions on political activities and requirements for financial transparency. The organization files annual Form 990 reports with the IRS, which are publicly available and provide detailed financial and governance information.

[1] https://projects.propublica.org/nonprofits/organizations/833490835 [2] https://peoples-law.org/501c3-nonprofit-organizations-my-organization-charitable [3] https://w.paybee.io/post/can-a-nonprofit-own-an-llc [4] https://www.aspeninstitute.org/wp-content/uploads/2023/08/AmericanPurpose-1.pdf [5] https://projects.propublica.org/nonprofits/organizations/833490835/202442639349300604/full