501(c)(3) Nonprofit Organizations

A 501(c)(3) nonprofit organization is a type of charity registered with the IRS that operates for religious, educational, scientific, or charitable purposes. It is exempt from federal income tax, meaning it doesn't pay taxes on its income, and donations made to it are often tax-deductible for donors. These organizations focus on public benefit rather than making profits, and they must adhere to specific regulations to maintain their tax-exempt status. Examples include museums, schools, and humanitarian groups. Their primary goal is to serve the community or advance a cause rather than generate profit.