Social Entrepreneurship / 2 posts found

Why get a Nonprofit status

by brianac
In order to take donations and be considered a non-profit you will need a couple things. 1. Is a state Incorporation and the other is what is called a 501 (c) 3 status which you get from the IRS. The benefit is that those that donate will be able to get tax credit for their donation to your company. 501(c) 3 is a not for profit company, that means that you are conducting business to make a profit you are a public service company. If you plan on providing a service to the community or start a church or ministry […]