What Is the Difference Between a Nonprofit and a 501c3? Understanding Nonprofit Corporations and 501(c)(3) Organizations
A nonprofit corporation is a state entity not automatically exempt from taxes. To get federal tax exemption, a nonprofit corporation must be approved as a 501(c)(3) by the IRS. This allows donors to deduct donations. A 501(c)(3) is organized to benefit society, not generate profits. Nonprofit Corporation vs. 501(c)(3) What’s the difference between a nonprofit … Read more