501 

In reference to a booty, levi jeans "501," jeans. so if u say damn that girl has a 501 she has a nice big ass

"Damm shorty check out Lauren's 501."

501 by Sam June 17, 2005

501 

The area code for central and western Arkansas.

Some Arkansan: I'mma gunna call duh Walmarts phone numbuh. Whut wuz it again?
Siri: Finding recipes for Wall Street Chili.
Another Arkansan: It started wif 501, but I (sounds like aye) don'tn't know whut duh resht of it wuz.

501 by Humanish September 30, 2020

501 

original , OG ,keeping it real

Dam you keep it 501 with them chucks and white shirt

501 by Therealone501 April 25, 2015

501 

A party announcement. Could be a small get together or a large all-out bash. In other words, it's going to be fun, so get off your ass and come!

501 tonight at Drew's. They got 6 kegs, the dg's and a couple pool tables. You better be there!

501 by red_rider April 14, 2004

501 

Reference to the past and-or better days. Old school, vintage, the way it used to be, solid, reliable, dependable.

" things just aint "501" anymore"

501 by Chill-in Chef May 12, 2009

501(c)(4) 

(US LAW) tax-exempt nonprofit as defined under Treasury Code section 503(c)(4). Very similar to a 501(c)(3), but while a 501(c)(3) is more completely exempt from taxes, a 501(c)(4) has more leeway in what sorts of political activities it may engage in.

For example, a 501(c)(4) organization may explicitly endorse a ballot position or candidate, whereas a 501(c)(3) may not.

There are many examples of 501(c)(3) organizations paired with 501(c)(4) organizations. This arrangement is known as the "Sibling Option" and is used by the Koch Family Foundations for funding Tea Bag political associations.

501(c)(4) by Sorry, the good guys lost September 10, 2010

501(c)(3) 

(US LAW) nonprofit corporation; legal status permitted to certain types of organizations under Treasury Regulations section 501(c)(3) that exempts it from taxation.

The 501(c)(3) is quite easy to organize, especially if one wants to funnel money from donors to some form of activism. It was first made available in 1934 but has become extremely common since 1986 because successive rulings greatly loosened restrictions on electioneering for 501(c)(3) entities.

Often 501(c)(3) entities engaged in politics are affiliated with an almost-identical 501(c)(4) entity, which has EVEN WEAKER limitations on electioneering.

The 501(c)(3) clause in the IRS code is practically an invitation by the government to launder corporate profits into lobbying.

501(c)(3) by Sorry, the good guys lost September 10, 2010