Importance of 501c3 for Non Profit Organizations.
There is a lot of humanitarian work to be done in the world and starting non profit organization will be very helpful. On your own, you will not achieve much but when things are structured you will be in a better position.
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.
Also, 501c3 helps you sell the purpose of the firm to the public. If people are assured you are doing charity work to help other people, the environment or even animals and not to get any profits you will not have any problem convincing them to join in the efforts. The more the people are backing you the high the chance that you will do better.
Also, as a 501c3, every contribution a donor makes to the non profit organization is tax deductible. It is always a good day to get a tax deduction. Also, this will encourage people to make donations when they know it will give them a break on the taxes.
The charitable organizations which are in the 501c3 also get grants from the state, federal and local government. The grants will be helpful in ensuring you meet the objectives of the organization. Do not let such a chance go by when there is a way you can take advantage of that. However, being registered under 501c3 is a necessary requirement.
When someone gives a donation you should write to them and say thank you and as you are running the non profit organization you will have to send official documents for one reason or the other. It does not matter how big or small the non profit organization is because these charges can be hard on the organization. When you do not have the assurance of a steady income flow this will be bugging you all the time.
If you are registered under 501c3 you can take advantage of mailing privileges. 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.
Those who are in 501c3 can ask for discounted rates from media houses when they want to make a publication or issue a press release and sometimes this is done for free. However, you ought to provide proof of that.