What are differences of non-profit and 501c3?
Amy Hutchens ∙ August 12, 2019
Non-profit is a broad term that covers several different types of organizations that are recognized by the Internal Revenue Service. A 501(c)3 is one of those organizations. Specifically it has 1. an exempt purpose (like educational, religious, preventing cruelty to animals, promotion of amateur sports, etc.) 2. no money can benefit a private individual and 3. the purpose is not to influence legislation (lobbying). There are many other types of non-profits such as social clubs, trade organizations and employee pensions, to name a few.
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