Nonprofit Basics: A Different Side of Charitable Giving
Starting a nonprofit can be a great and fulfilling way to give back your community. The key to a nonprofit is having a charitable purpose. This could be the advancement of education, relief efforts from poverty or natural disasters, or any other purpose beneficial to a community. Nonprofits are effective in advancing change or providing assistance where individuals may otherwise lack the necessary funding and resources. This is because most tax-exempt organizations incentivize donations by making them fully tax-deductible to donors.