Because nonprofits serve important public purposes, nonprofit organizations are granted exemption from most federal, state, and local taxes, and donors are granted a tax deduction for contributions to 501(c)(3) charities. All nonprofits should comply with both the letter and the spirit of federal and state laws, which require disclosure of certain information to the public. This educational packet includes a summary of public disclosure requirements for charitable nonprofits including:
Attached at the end of this packet you will find the customizable companion document:
Maryland Specific Disclosure Requirements.
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