How To Start a Nonprofit - Before You Begin

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What is a nonprofit? 

It is important to know what a nonprofit is before you dive into forming one. A nonprofit is a type of organization that is created to accomplish a public benefit. It does not have owners other than the community in general. It has no shareholders. It cannot be set up for the purpose of generating an income or profit for the founders or staff. Most nonprofits have volunteers; for-profits do not have volunteers. Some organizations (not all) apply for tax-exempt status from the Internal Revenue Service (IRS) so that donations can be tax-deductible to the donor and the organization can avoid some federal corporate income tax. There are many classifications of tax-exempt organizations, one of which is 501(c)(3).  

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