Responses
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.
is governed by a board of directors.
does not earn any profit.
1 answer
The correct response is:
enjoys local, state, and federal tax exemptions.
A 501(c)(3) nonprofit organization is recognized by the IRS as tax-exempt and is eligible for various tax benefits at local, state, and federal levels, which distinguishes it from other types of nonprofits.
