501(c)(3) entities are typically classified into three major categories: Public Charities: These receive a significant portion of their income from the public or governmental grants. Examples include churches, schools, hospitals, and broadly-supported charities.
Yes, the state of Florida requires nonprofits to obtain a state business license. Visit Florida's Department of Business and Professional Regulation to apply.
Officer/Director If listing directors: list at least 3 directors. NOTE: If this entity will be opening a bank account, most financial institutions require this information to be designated in the Department of State's records.
How they're different. Interestingly, a nonprofit organization can operate like a traditional C corporation, where the organization is a separate legal entity from the owner. By contrast, not-for-profit organizations are similar to general partnerships in that they enjoy no legal separation from the members involved.
The Difference Between a Nonprofit and For-Profit: Organizational Motive. While for-profit companies exist for the purpose of—you guessed it—making a profit, nonprofit organizations exist to maintain assets in order to continue providing and expanding services that support their mission.