Concept · Programs and community

Nonprofit

Also called: non-profit, nonprofit organization, 501(c)(3), 501c3, not-for-profit, charity

An organization that exists to serve a mission and does not pay profits out to owners. In the US, people often say '501(c)(3)' for a nonprofit that the IRS treats as a tax-exempt charity. Many founder programs and tech communities are nonprofits run by a board.

For example: A volunteer-run tech community is a nonprofit. Sponsors and donors pay for its events, and a board decides how the money is used.

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This glossary is plain-language orientation, not legal or financial advice. Before you decide on a company structure, a contract, taxes or a fundraising deal, talk with a lawyer or an accountant.

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