During your time at N.C . State, it is guaranteed you will encounter a nonprofit organization. Whether you’re volunteering with Habitat for Humanity or camping out during Relay for Life, you’ve likely been involved with at least one of these unique organizations.
A nonprofit, or 501(c)(3), is a tax-exempt organization whose main purpose is not to garner funds for profit, but for the promotion of a specific mission.
According to the Internal Revenue Service,”The benefits of having 501(c)(3) status include exemption from federal income tax and eligibility to receive tax-deductible charitable contributions. To qualify for these benefits, most organizations must file an application with, and be recognized by, the IRS.”
If your parents have ever made a rushed, end of season donation to an organization, it’s most likely because donating to nonprofits means getting a tax break. According to Lisa Stewart, logistics specialists for the Cystic Fibrosis Foundation, nonprofits receive even more benefits than regular companies.
“We can get discounts on products for the office or things we use to promote our mission,” Stewart said. “Sometimes, we even get services donated.”
At the Cystic Fibrosis Foundation, the mission is funding research to end cystic fibrosis, a lung disease causing mucus to block one’s airways. It is most common in children.
“We have care centers in North Carolina at UNC , Duke and Wake Forest Baptist Medical Center, so the funds we raise go there toward research,” Stewart said.
Every nonprofit tries to donate as much of their revenue as possible to their own mission, but of course there are costs associated with running a nonprofit organization.
Usually, nonprofits have several offices across the nation, each with a staff of anywhere from five to 25 people working to raise awareness and get donations. All of these people must be paid, though nonprofits love using volunteers for all kinds of jobs.
At the Cystic Fibrosis Foundation, $.90 of every dollar goes directly to researching a cure, but this isn’t the case for every nonprofit.
“Funds go to the mission of the organization, as well as overhead costs. For us, $.76 of every dollar is given directly to the cause,” Erica Boles, campaign manager for the Leukemia and Lymphoma Society’s Team in Training program, said.
Boles works out of the organization’s Raleigh office, and organizes Team in Training events for all of Eastern N.C . Team in Training is a marathon event in which volunteers sign up to raise a designated amount, and get trained to run a half or full marathon at a destination of their choice. This winter, Disneyworld and Kiawah Island are the offered destinations.
“We do not have anyone making money off of our organization like a regular business,” Boles said. “Our profits go to our mission and toward helping provide the many services we offer to leukemia and lymphoma patients.”
The Leukemia and Lymphoma Society not only funds a cure for blood cancers, but also offers a patient hotline where victims of the disease can call and get their questions answered. Patients can also be matched up to other patients of a similar age and cancer type.
While nonprofits aren’t always as efficient as these larger organizations, each comes with its own mission and cause, all of which give students an opportunity to get involved with an issue close to their heart.
