(highlight:: Charities v.s. Non-Profit Organizations: What's the Difference?
Transcript:
Speaker 2
Difference between a charitable organization and a nonprofit organization because sometimes people use these terms interchangeably but there is a difference, right?
Speaker 1
Yes, there is. So there are what are known as tax exempt organizations and also public charities and private charities. So in the case of a private foundation for instance, this would be an organization that doesn't pay taxes but doesn't get public support. It gets support from one general source and mostly makes grants to other organizations. So we know these as some of the major foundations in the country. Or, Maat, Serd, Na, Karnaghi, you have the Rockefeller Foundation out west in your way you have the Hewlett Foundation and many others. And then there are just public charities. These are organizations that are generally soliciting the public and they get a broad base of support from the donating public to support the work that they're doing. Both of them are nonprofits. Now there are other types of nonprofits as well but when people give them money, they are not entitled to any type of tax deduction. These are other types of associations and organizations that are what we call C4 organizations. They are advocacy organizations and the people who give to them don't get a tax deduction although the organizations themselves do not have to pay taxes. So you can be a nonprofit but not be an organization that can offer donors a charitable deduction. And that's all laid out in our internal revenue code for anyone who wants to take time to continue to see it.)
- Time 0:09:14
- definition, charity, non-profit, 1evernote,

(highlight:: Charities v.s. Non-Profit Organizations: What's the Difference?
Transcript:
Speaker 2
Difference between a charitable organization and a nonprofit organization because sometimes people use these terms interchangeably but there is a difference, right?
Speaker 1
Yes, there is. So there are what are known as tax exempt organizations and also public charities and private charities. So in the case of a private foundation for instance, this would be an organization that doesn't pay taxes but doesn't get public support. It gets support from one general source and mostly makes grants to other organizations. So we know these as some of the major foundations in the country. Or, Maat, Serd, Na, Karnaghi, you have the Rockefeller Foundation out west in your way you have the Hewlett Foundation and many others. And then there are just public charities. These are organizations that are generally soliciting the public and they get a broad base of support from the donating public to support the work that they're doing. Both of them are nonprofits. Now there are other types of nonprofits as well but when people give them money, they are not entitled to any type of tax deduction. These are other types of associations and organizations that are what we call C4 organizations. They are advocacy organizations and the people who give to them don't get a tax deduction although the organizations themselves do not have to pay taxes. So you can be a nonprofit but not be an organization that can offer donors a charitable deduction. And that's all laid out in our internal revenue code for anyone who wants to take time to continue to see it.)
- Time 0:09:14
- definition, charity, non-profit, 1evernote,