Demystifying the Various Tax Exemptions: 501(c)(3) vs. 501(c)(4)
Board Effect
MAY 5, 2021
IRS tax code. For example, they’re not allowed to share in the nonprofit’s stock or profits as is typical with for-profit corporations. If the nonprofit were to shut down for any reason, no individuals may benefit from the distribution of assets. 501(c)(6) Business leagues, chambers of commerce, real estate boards, etc.
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