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A nonprofit organization with 501(c)(3) designation differs from other nonprofits in that the 501(c)(3) nonprofit organization(1 point)
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does not earn any profit.
does not earn any profit.
enjoys local, state, and federal tax exemptions.
enjoys local, state, and federal tax exemptions.
operates in accordance with its stated mission.
operates in accordance with its stated mission.
is governed by a board of directors.
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enjoys local, state, and federal tax exemptions.
(501(c)(3) status confers federal tax exemption and typically state/local tax benefits and allows tax-deductible donations — other options describe features common to many nonprofits.)
(501(c)(3) status confers federal tax exemption and typically state/local tax benefits and allows tax-deductible donations — other options describe features common to many nonprofits.)
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