Benefits of 501c3 for Non Profit Organizations.
Non profit organizations are essential in offering help to the many groups that need it all over the world and even here at home and anyone who has the capacity to do this should not hesitate. Remember that there is more than can be done when there is organization as opposed to when there is none.
With a non profit organization, you can be classified as 501c3 which means you will not be paying taxes. With more resources due to the amount you will save not having to pay taxes it means you will have more money to do more. However, you should include this on any publications made and on the mission statement.
People are more likely to give credibility to 501c3 types of non profit organizations. If you want to do charity work you have to mobilize people to help and if they trust that you are not there to make profits they will back you. If you have the support and trust of people there will be no limit to the achievements you will get.
People who give donations to non profit organizations can use this to get tax deductions. It is always a good day to get a tax deduction. In addition, people will be more generous in the donations when they are guaranteed tax deductions.
You can also apply for grants at the local, state and federal level as a 501c3 charitable organizations. With these grants, you can achieve a lot of what you have set out to do. This will mean a lot of goodness in the world which is why it is not a chance you want to pass out on. However, being registered under 501c3 is a necessary requirement.
You will be sending a lot of mails whether they are to make requests or thank notes. The postal charges can add up quickly. When you are not assured of where the next check will come from, the expenses will give you sleepless nights.
Those who are registered under 501c3 can take advantage of the mailing privileges and postage rates which are available for such non profit organization. With this break on the organization’s budget, you can then go ahead to put money on the critical departments. Thus, it is a good idea to go for 501c3 when you are registering your non-profit organization.
Additionally, 501c3 non-profit organization also get discounted or free rates from media outlets. In order for this to happen, you should not be surprised when you are asked to prove it.