Economy

When venturing into the realm of nonprofit organizations, one is met with a pivotal decision that shapes the trajectory and operational scope of their mission: whether to pursue 501(c)(3) or 501(c)(4) status. This choice not only influences tax exemption and the ability to receive tax-deductible contributions but also determines the level of engagement in political activities. Grasping the nuances between these two classifications is key to aligning organizational goals with the correct legal structure. This blog post aims to elucidate the strategies for choosing between these two statuses, serving as a guide for those seeking to make an informed decision. Understanding the Fundamental Differences The choice between a 501(c)(3) and 501(c)(4) status for a nonprofit organization hinges on...

The global health crisis has created an endless list of damage. Businesses are slowing down and the global economy is being affected. Covid-19 has affected economic stability and has therefore pushed multiple businesses into a definite hole. We invite you to read this article to discover some of the consequences of Covid-19 on the global economy. Devaluation of currencies The Coronavirus has affected countries' currencies. Indeed, the health crisis has orchestrated multiple damages in the business world. Businesses are no longer functioning well and therefore activities are no longer running. This situation has created non-payment of taxes. The stock market went into free fall. This has caused the devaluation of currencies. The dollar and the euro are not the only currencies used in the...