Grandmotherâs influence helped preserve Military Health System leaderâs Hispanic heritage. Now through Oct. 15 is Hispanic Heritage Month. James Rodriguez, the deputy assistant secretary of Defense in the Office of Warrior Care Policy, explains how he tries to preserve his cultural heritage.
Getty. You may not know it, but the National Football League is a nonprofit organization. It may seem absurd that a collection of teams that generated at least $9 billion in revenue last season would be given tax-exempt status, but the NFL is technically classified as a 501(c)6 organization.Here's how the IRS describes 501(c)6 tax-exempt status:t may seem absurd that a collection of teams that generated at least $9 billion in revenue last season would be given tax-exempt status, but the NFL is technically classified as a 501(c)6 organization. Here's how the IRS describes 501(c)6 tax-exempt status:
Nonprofit charitable organizations are curious institutions in American law, defined more by what they arenât than what they are, because of the way the Internal Revenue Code has evolved. If you think about it, a nonprofit institution is: not for profit, exempt from taxes, and not a private foundation. So what does this mean, and how does it work? Terminology of 501(c)(3) Organizations. Nonprofit (or not-for-profit). This term doesnât mean that an organization canât take in more money than it spendsâwhat we usually think of as âprofit.â If that were the requirement, most, if not all, nonprofits would soon fail.