Written by Jennifer Fitzgerald
“If business is the backbone of a community, nonprofits are the heart.”
If you stop a person on the street and ask them what their favorite nonprofit is, chances are they will have a quick answer of a local organization they support financially or with volunteer time. In Western North Carolina, there are a multitude of nonprofits that focus on everything from assisting the homeless to supporting the arts/crafts community to preserving the environment.
Traditionally, we think of a nonprofit as a group working together to bring about change and make a positive impact in a community. Associates at Johnson Price Sprinkle PA (JPS) explain that the nonprofit sector is a strong economic driver in Western North Carolina, covering a broad spectrum of public needs including education, healthcare, social services, environmental issues, the arts, and economic development. While it is easy to create a nonprofit organization as a legal entity, the legal formation is not the end of the process. Unless exempted under IRS rules (churches and governmental units, for instance), an entity is not exempt from income tax until specifically recognized as such by the IRS.
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