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What Are Some of the Advantages of a Non-Profit Corporation?

April 26, 2017advantages corporation non-profit

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What Are Some of the Advantages of a Non-Profit Corporation?

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Here are some of the advantages of a Non-Profit Corporation: 1. Same Limited Liability protection as other For-Profit Corporations. Directors, Trustees, Officers, or members are typically not personally liable for the debts and liabilities of the Non-Profit Corporation. 2. The Non-Profit Corporation’s life has perpetual existence. 3. Retirement funds and qualified retirement plans (like 401k) can be more easily setup than For-Profit Corporations. 4. Tax-Exempt status if filed and granted under 501 (c)(3) of the IRS Tax Code. 5. Tax-Exempt Non-Profit Corporations may receive public and private grants. 6. Individual donors can claim a federal income tax deduction of up to 50% of their donations made to 501(c)(3) Non-Profit Corporations. 7. Savings on postal rates on certain bulk/mass mailings. Please consult your accountant or state agencies for more details.