Nonprofit Terms 101

Sometimes the nonprofit world's terminology can be a bit overwhelming, and quite frankly, absurd at times. We're here to help you! With help from GrantSpace, we've compiled a glossary of need-to-know terms for those involved in the nonprofit world. 501(c)(3) - The section of the tax code that defines nonprofit, charitable, tax-exempt organizations. 501(c)(3) organizations are further defined as public charities, private operating foundations, and private non-operating foundations. Acorn Fund - A starter fund that grows over time with a maximum of five years to become fully funded. When contributions reach the minimum balance the granting can begin. Fund types include donor advised, designate

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