What is the difference between nonprofit and 501(c)3?
All 501(c)3 organizations are nonprofits, but not all nonprofits have 501(c)3 status. Nonprofits can be organized for many different purposes, but only those that meet the IRS criteria for 501(c)3 status are eligible for tax-exempt status and tax-deductible donations.
What is the difference between a public charity and a private foundation?
501(c)3 organizations are classified as either a public charity or a private foundation. What is the difference? The main difference between a public charity and a private foundation is how they are funded and the source of their income.
How many directors do I need for my nonprofit organization?
The number of directors required for a nonprofit organization varies by state and depends on the organization's bylaws. In general, most states require a minimum of three directors for a nonprofit organization, although some states allow as few as one director.
Bylaws: What are they and why does my organization need them?
Nonprofit bylaws are a set of rules and regulations that govern the internal affairs of a nonprofit organization. Bylaws serve as a legal document that outlines the organization's purpose, structure, and procedures for decision-making and operation. Bylaws are typically created when the organization is formed and can be amended as needed to reflect changes in the organization's needs and activities.