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Advantages of a 501 (c) (3) Determination

1. LAWSUIT PROTECTION. The formal step of incorporating will protect you, your directors and officers from personal liability. In today’s world, even charities, churches and foundations are targets of lawsuits. Your only real protection is to incorporate.

2. TAX EXEMPTIONS. Internal Revenue Service Code (IRS) 501(c)(3) nonprofit corporations are allowed exemptions from state and federal income tax. You may also be eligible to get an exemption from sales and property taxes, as well.

3. RECEIVING DONATIONS. Your IRS 501(c)(3) corporation will be eligible to solicit and receive donations to further your charitable cause. Private companies, Individuals, Grants, Government and other Nonprofits corporations and Foundations may contribute. Donors typically will receive a tax deduction for their contribution.

4. PERPETUAL OPERATION. A non-profit corporation can live on, long after the founders have retired, resigned or died. The corporation can provide services and continue its charitable mission indefinitely, provided it complies with Federal, State and Local laws.

5. STRUCTURAL “BLUEPRINT”. The non-profit corporation provides the operating “blueprint” of the organization. Articles, Bylaws, Operating Agreements define the “how” and “why” of the organization. Our experts will draft these documents to your specifications.

6. BENEFITS. Non-profit charitable entities are allowed to pay its principles the same benefits as a for-profit organization. Employee benefits can include salaries, health insurance, medical expense re-imbursement, as well as corporate retirement and pension plans, travel and meal re-imbursement and much more.

7. DISCOUNTS AND OTHER SUPPLEMENTAL BENEFITS. Other benefits can include discounts on goods and services, bulk postage rates, free or discounted media coverage, and the opportunity to participate in other activities including work study, University research programs, hiring and employee incentive programs and much more.

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