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Yes, of course, and many such tax-exempt organizations do.
However, the law restricts how it may spend that profit, specifically prohibiting any payments to individuals in the form of dividends or other payments outside of ordinary contracts within the scope of the charter.
There may be limits to how much profit a tax-exempt (501) nonprofit may keep from different sources, such as its own investments, without risking having to pay taxes.
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Where can I find more information on 501c?
501c is the IRS form for non-taxing for non profit organisations. I recommend you consult a tax lawyer who will be able to organise this best for you.
Is a 501c organization a non profit organization too?
You can probably find the most information on the main site of the 501c organization. But probably can find information about it on the Wikipedia site.
What is a 501c and why do you need it?
A 501(c) is a section of the IRS tax code that designates an organization as tax-exempt. Nonprofit organizations often seek 501(c) status to receive tax benefits, such as exemption from federal income tax and eligibility for grants and donations. Having 501(c) status also helps establish credibility and trust with donors and supporters.
Where can I find information on 501c and tax exemptions?
501c is for non-profit organizations only. Any online tax help site will be happy to help you with your taxes, or visit a tax office such as H&R Block to receive help.
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