Future Now 009 — Art Taylor on the Power of Futures Thinking
Future Now
Charities v.s. Non-Profit Organizations: What's the Difference?
Charitable organizations differ from nonprofit organizations in terms of tax-exempt status and sources of support. Private foundations do not receive public support and mainly provide grants from a single source, while public charities solicit donations from the general public. Both are nonprofits, but only public charities offer tax deductions to donors. Additionally, C4 organizations, classified as nonprofits, do not provide tax deductions to donors, even though they do not pay taxes themselves. Understanding the distinctions is essential as outlined in the internal revenue code.
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