Nonprofit corporations offer several benefits: - Tax Exemptions: They are exempt from federal and state income taxes. - Grants and Donations: They are eligible to receive public and private grants, as well as tax-deductible donations. - Limited Liability: Directors and officers are protected from personal liability for the organization's debts and obligations. - Credibility: Achieving 501(c)(3) status enhances the organization’s credibility and trustworthiness.