One of the primary benefits of a nonprofit or church being tax-exempt under IRC Section 501(c)(3) is the ability to accept *contributions and donations that are tax-deductible to the donor. Additional benefits include, but are not limited to:
– Exemption from federal and/or state corporate income taxes
– Possible exemption from state sales and property taxes (varies by state)
– Ability to apply for grants and other public or private allocations available only to
– IRS-recognized, 501(c)(3) organizations
– Potentially higher thresholds before incurring federal and/or state unemployment tax liabilities
– The public legitimacy of IRS recognition
– Discounts on US Postal bulk-mail rates and other services
(*Remember that Aplos has the ability to track donations and send out contribution statements automatically.)
