Over the course of the semester students will create, fund, run, and dissolve an imaginary 501(c)(3) public charity. Sec. 501(c)(3) public charities include soup kitchens, museums, private schools, legal aid centers, private hospitals, environmental organizations, and countless other types of educational, religious, scientific, and charitable organizations. As we work with our nonprofits, we will discuss the reasons the nonprofit sector exists and why nonprofit organizations receive preferential tax treatment.