Ghands, Inc is a charitable organization, non-governmental organization with tax-exempt status, formed for the purpose of fulfilling a mission to improve the common good of society rather than to acquire and distribute profits.
The defining feature of nonprofit organizations is that they do not distribute a financial return (equity), or profit, to private individuals. Nonprofit organizations are subject to certain specific benefits as well as obligations, which are governed by Minnesota state statutes and the IRS.
There are more than 25 different types of nonprofits defined in the IRS code, with the most common type is 501(c)(3).
Nonprofit organizations must be guided by their charitable mission and led by a board of directors. That board will set the strategic direction of the organization and hire additional staff needed to fulfill its mission.
We provide a breakdown of our funding sources. More than two-thirds of our income is generated from teaching, general membership by way of fundraising and partnerships and contracts.