What is 501(c)(3)?
Under US federal and state tax law, a non-profit organization (sometimes abbreviated to "not-for-profit" or "non-profit") is an organization whose primary objective is to support some issue or matter of private interest or public concern for non-commercial purposes. Thus, directors and staff of the organization may not accrue equity in the organization or its products, and no shares or private ownership is permitted. Non-profits may be involved in an innumerable range of areas relating to the arts, charities, education, politics, religion, research or some other endeavor. The LifeLine Group is dedicated to creating technically excellent, relevant exposure and risk assessment tools and to make those available to the public.
Although non-profits do not operate to generate profit, they still need to generate revenue in order to finance their activities. The LifeLine Group funds its activities through a variety of contracts, grants, cooperative agreements and donations from government, NGO's, industry and private persons or groups. These donations are tax deductible.'