http://www.kenniffonline.com/branch-profits-tax/
Can you file for a 501 c 3 if you are an organization “branch” of a corporation?
The corporation would not be non-profit, but a branch would be. Is that possible? Also, the corporation handles all IRS tax-related issues.
Probably not. A for-profit organization owns the branch and this alone would be enough to kill any chances for 501(c)(3) status.
Co-op bank posts a pre-tax profit of 3.7 billion shillings