5.3: Exercise- Being a Media Nonprofit
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EXERCISE: BEING A MEDIA NONPROFIT
- The organization’s mission and purpose are more important than profit.
- Ownership and leadership are different. (Unlike a business, no private person can own a nonprofit–they are led by a board of trustees or board of directors.)
- Any excess income at a nonprofit is not distributed to shareholders or owners, but rather reinvested in the organization’s operation.
- When a nonprofit is a 501(c)(3), it may be exempt from certain taxes and it may also offer its donors the opportunity to make tax-deductible donations.
- A 501(c)(3) can’t attempt to influence legislation or political campaigns.
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