WHAT IS A NON-PROFIT?

A non-profit organization is a group, company, or organization formed to achieve a specific mission or goal beneficial to the public.


Contrary to the name, non-profit organizations can generate revenue. Instead of distributing it to share-holders, non-profits utilizes it's revenue to drive it's mission, pay employee salaries, overhead costs and administrative expenses. The Internal Revenue Service (IRS) recognizes over 25 categories of organizations as exempt from federal income tax.


Anyone can incorporate as a non-profit, but only those willing to abide by stringent government standards can achieve 501(c)(3) tax-exempt status.



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