Nonprofit does not mean NO profit! Designation as a nonprofit is a tax status 501 is a section of the IRS tax code. A charity (501c3) has no owners and any funds realized in the operation of the organization is used to benefit society. The extent to which a nonprofit does generate surplus revenues they must be used to further the organizations mission.
A financially strong nonprofit has between 3-6 months of operating cost in reserves, that can help should the organization fall on difficult times.
A financially strong nonprofit has between 3-6 months of operating cost in reserves, that can help should the organization fall on difficult times.
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