Formations of Nonforprofit -501c3

    The federal government rewards citizens who are generous with their donations. For their efforts, they can enjoy the added benefit of paying less taxes. The benefits for a 501c3 are a no brainer.

    • Tax deductible donations for the donor.
    • Earn Income - Non for profits can pay salaries.
    • Exemption from federal and/or state corporate income taxes on most income to the nonprofit.
    • Higher thresholds before incurring federal and/or state unemployment tax liabilities
    • Ability to apply for grants and other public or private allocations available under public legitimacy of IRS recognition.
    • No member of the non-for profit is liable for any nonprofits debts.
    • Donate stock- receive tax deduction for full market value plus potential decoction of over 20%and receive an instant tax deduction over 20%
    • Perpetual existence. The corporation continues on after the death of the founder(s).
    • Many media outlets often give free or discounted rates for announcements and press releases from nonprofit organizations
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