Nonprofits

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Non-profits
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What is a non-profit?

• It is a tax exempt organization that serves the
  public interest.
• Purpose of a non-profit must be
• Charitable
• Educational
• Scientific
• Religious
• Literacy

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Cont.

• Non-profits do not declare a profit
• Public may make donations
• Uses what revenue it makes for operating expenses.

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Starting a non-profit

• Organization must file articles of incorporation
  with the state in which it resides.
• Non-profit organizations are given tax-exempt
  status (they do not pay federal corporate income
  tax)
• Usually they do not have to pay local and state
  taxes either.

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Non-profit employees

• Non-profits have both paid and volunteer staff
  members.
• Salaries are usually low for non-profit employees.

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Examples of Non-profits

• American Breast Cancer Foundation
• American Cancer Society
• American Red Cross
• Child Find of America
• Habitat for Humanity
• March of Dimes
• http//www.charitywatch.org/azlist.html