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The key difference between a nonprofit and a 501c3 organization lies in the tax-exempt status. While all 501c3s are nonprofits, not all nonprofits qualify for 501c3 status. A 501c3 designation also enables the organization to offer tax-deductible contributions to donors, making it a preferred choice for many. Understanding these distinctions can guide you in completing the AK Form C03 to secure the right classification.
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