Explaining Nonprofit Funding
What is nonprofit funding? If you have this question for long, the answer is - it’s kind of financial assistance granted to a nonprofit organization. Now in America, a nonprofit organization is classified as a corporation with the following traits – • The state government has the registration record of the company (nonprofit corporation) permitting it to operate business within the state. • It is recognized by the IRS (Internal Revenue Service) or the revenue service of the United States Federal Government. The agency exempts such companies from federal income tax. • Its operation does not involve commercial earning but rather charitable work in the community. Looking for funding source for your nonprofit organization? Typically nonprofit funding is sourced from different income-avenues like individual donations, online/offline fundraising, crowdfunding, peer to peer fundraising, and grants etc. However, there is another interesting approach to this process; corporate-g