When you're starting a nonprofit or hearing about nonprofits, there are so many myths and misconceptions about nonprofits. People often get confused about information regarding nonprofits and I wanted to share 5 things that I often hear people get mixed up about. Here’s the breakdown:

00:00 Introduction
00:36 509(a)(1) and 509(a)(2)
03:57 every nonprofit is a 501c3?
06:11 every nonprofit has to be charitable?
08:09 nonprofits making a profit
10:53 differences between the IRS and the state

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The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the video's topic, or any other legal matter, consult with an attorney or tax professional in your area.

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