
There are different types of tax-exempt nonprofits. The most well-known and common is 501(c)(3), which are public charities or private foundations established for purposes that are religious, educational, charitable, scientific, literary, testing for public safety, fostering of national or international amateur sports, or prevention of cruelty to animals and children. There are, however, 501(c)(4) through 501(c)(27) organizations, which are tax-exempt but not charitable.
In addition to being exempt from federal and state income taxes, tax exemption offers other benefits:
Donations to the nonprofit are tax-deductible. With 501(c)(3) nonprofits, donations are tax-deductible to the donor.
Access to grants earmarked for 501(c)(3)s. Certain grants and other public allocations are only available to 501(c)(3) organizations.
Possible state sales and property taxes exemption. This benefit varies by state.
Credibility. There is established credibility for an organization that is recognized by the IRS as a tax-exempt nonprofit.
US Postal Service discounts. Tax-exempt nonprofits generally can receive discounts on bulk mail rates.
We have special faculties and experience to prepare the required documentation for getting non-profit from Internal Revenue Service.