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Non-profits are organized for the mutual or public benefit other than generating profit for investors or owners.

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Pros

• Creates a chance of serving others and effecting change

• Separate entity status

• Individual donations are tax exempt

• Perpetual existence

• Personal asset protection

• Access to grants

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Cons

• Expensive to start and maintain

• Strict guidelines for formation, management, and eligible cause

• Strict reporting requirements and ongoing compliance obligations

• Officers and directors do not receive profits

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