What are the benefits of obtaining a not for profit status?

Answer Nonprofit status for an organization, from an individual artist to a large museum, has several benefits, all dealing with money in some way. Being a legal nonprofit is often the only way an organiz... Read More »

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How to Get Non Profit Status?

Federal income tax exemption is commonly referred to as 501(c)(3) Non Profit Status. The name comes from Section 501(c)(3) of the Internal Revenue Code, which is the section that allows educational... Read More »

What is 501(C)3 Non Profit Status?

A 501(c)3 organization is a charitable organization that has filed official paperwork with the Internal Revenue Service (IRS) to become tax exempt.

Who qualifies for not for profit status?

The Internal Revenue Code lists 28 types of organizations that qualify for not-for-profit status. Examples of not-for-profit organizations include charities, arts organizations, and educational org... Read More »

Does Profit Sharing Affect Unemployment Benefits?

The benefits provided by unemployment insurance are affected by payments from other income sources at the time an individual is without a job. This raises an important issue with regard to individu... Read More »