What’s the difference between a charity, a private foundation, a nonprofit, and a 501(c)(3)?

Think of nonprofits as the generic name for any organization that retains income for the organization’s purposes. A charity is a nonprofit that derives a substantial portion of its support from the public or functions to “support” one or more organizations that are charities and has qualified under Section 501(c)(3) of the Internal Revenue Service …

What’s the difference between a charity, a private foundation, a nonprofit, and a 501(c)(3)? Read More »