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The Non-Profit Industry

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Non-profit industry can be generally divided into different categories such as Arts and Culture, Environment and Animal Welfare, Faith-based, Healthcare, Higher Education, Human Services, International Affairs, K–12 Education, Medical Research, and Public and Society Benefit. The Internal Revenue Code (IRC) defines more than 25 categories of organizations that are exempt from federal income taxes. For some people, a non profit equals to what the tax code classifies as a charitable or 501(c)(3) organization but a charitable organization must benefit the broad public interest. It must serve at least one of the following purposes defined by IRS: charitable, religious, educational, scientific, literary, testing for public safety, fostering national

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