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Non-Profit - Coggle Diagram

- - - - Potentially more focused on a particular concern
    - - 501c (3)
        
        Previously, I believed all Non-Profits fell under the 501c (3) tax exemption status
        
        Religious
        
        Religious activities are automatically tax exempt as long as requirements of religion are fulfilled
        
        Charitable
        
        I most commonly think of Charitable Non-Profits when I heard the word "Non-Profit"
        
        Scientific
        
        Literary
        
        Educational
        
        Universities and Colleges receive tax-exempt status
        
        Federal Tax Exemption
        
        State Tax Exemption
      - 501c (4)
        
        Social Welfare Organizations
        
        Volunteer Fire Departments
      - 501c (5)
        
        Labor Unions
        
        Labor Unions are organized to ensure members receive proper work conditions and other necessities related to employment
      - 501c (6)
        
        Chamber or Commerce and other similar community organizations
      - 501c (7)
        
        Social or Recreational Groups
        
        Grand Rapids Social Club is a group who's events I have participated in
      - 501 (k)
        
        Related to Child Care
  - - - Private, Government, or Public
        
        Items
        
        Charities may gather items essential for basic necessities as well as education or athletics.
        
        Monetary
        
        Time
        
        Volunteer's donate their time and efforts to help the organization reach their goal or follow their mission
    - - State Tax Exemption
      - Federal Tax Exemption
      - Follows International Laws and Regulations regarding Non-Profits
- - - - Sell Products or Services
        
        TOMS, donates a pair of shoes for every pair sold. When I sold shoes, many customers looked specifically for the brand
    - - Follows International Regulations, if operating across borders
    - - The Triple-Bottom Line is a form of self-regulation within Social Enterprises
  - - - Corporation Profit's are taxed as well as dividends on stock
    - - < 100 Shareholders
      - < 25% of revenue from "passive" avenues
    - - Full Ownership
        
        Sole Proprietorship
        
        An individual may own an LLC, but has full responsibility
        
        Partnership
        
        Two or more people can share ownership of an LLC
        
        Shared Responsibility
        
        Angel Investment
        
        Parent Company
        
        Business entities are able to own an LLC while still operating separately or to gather needed resources affordably
      - Hard to obtain additional funding compared to S and C Corps