ASU Lodestar Center for Philanthropy & Nonprofit Innovation - ASSISTANCE TO NONPROFITS

ASU Lodestar Center for Philanthropy & Nonprofit Innovation - ASSISTANCE TO NONPROFITS: "Introduction

Anyone who has formed a nonprofit or read the “How to Start a Nonprofit” FAQ understands that it involves extensive time, dedication and expense. For that reason it is important to summarize the advantages and disadvantages of this venture. The vast majority of questions coming to the ASU Lodestar Center focus on nonprofits being organized for religious and charitable purposes. Such an organization qualifies for tax exemption under the Internal Revenue Code as a 501(c)3. In the IRS code there are over 35 designations for nonprofits. Careful research needs to be done to determine the correct designation. This article will be limited to the examining the advantages and disadvantages of 501(c)3s."