THERS!
If you or your organization has a worthwhile need for items you
can't afford to purchase, there are often ways to obtain those
items for free. By setting up a non-profit organization, you can
accept donations of equipment from businesses and individuals who
want to help the community while obtaining tax write-offs for
outdated equipment.
The structure of non-profit organizations is narrowly defined
according by the Internal revenue Service, and the qualifying
groups usually divide up into educational, religious, artistic or
social service organizations. A non-profit organization exhibits
certain characteristics. It is incorporated and set up to achieve
public goals. It is exempt from federal taxes under IRS code
section 501 (c) (3), and gifts made to organization can be
deducted by the donor. It is also at least partially exempt from
state, county and city taxes.
Non-profit organizations are not set up for financial gain of
individuals or for profit companies. A non-profit organization's
purpose focuses on public service rather than profit.. Non-profit
organizations provide services beyond those supplied by agencies
of the Unites States government, and they occupy a spot somewhere
between the private and public sectors.
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