Who qualifies for not for profit status?

Answer 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 »

Top Q&A For: Who qualifies for not for profit status

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.

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 are the benefits of obtaining a not for profit status?

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 »

Why Is Economic Profit a Better Measure of Profit Than Accounting Profit?

Although rarely acknowledged, you can measure profit in more than one way. Sometimes numbers can deceive you, and this is the case when it comes to accounting profit, which merely shows profit on t... Read More »