Hangatu Green

Yes, a 501(c)(3) can take in more money than it spends, but in the nonprofit world that extra money is called a surplus, not a profit. So, can a 501(c)(3) end the year with more money than it spent? Yes. One of the most common misconceptions about nonprofits is that they must break even or … Read more

Many people assume that all 501(c)(3) organizations are treated the same by the Internal Revenue Service (IRS). While these organizations share certain tax-exempt benefits, the IRS makes important distinctions based on their purpose, structure, and activities. Section 501(c)(3) includes a wide range of organizations, such as charities, religious organizations, educational institutions, and scientific organizations. Although … Read more

Grants can be an important source of funding for 501(c)(3) organizations. Private foundations, corporations, government agencies, and other organizations provide funding for a wide variety of charitable programs and projects. Finding a potential grant opportunity, however, is only the beginning. Your organization also needs to be prepared to clearly explain who you are, what you … Read more