What Is a 501(c)(3)? A Simple Guide to Nonprofit Status and Tax Benefits
What Does 501(c)(3) Actually Mean? The term “501(c)(3)” refers to a specific section of the U.S. Internal Revenue Code. It’s the part of federal tax law that defines organizations that are exempt from paying federal income tax because they serve the public good. In short: A 501(c)(3) organization is a nonprofit that exists for charitable, […]
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