When starting a 501(c)(3) organization, there are generally two choices for classifying the organization: private foundation or public charity. Public charities represent the largest share (72%) of active, 501(c)(3) organizations. Their purpose is to perform charitable work, while private foundations…
Recent changes in beneficial ownership information (BOI) reporting requirements have significant implications for all business types, including nonprofits. The Corporate Transparency Act (CTA), enacted as part of the National Defense Authorization Act for Fiscal Year 2021, mandates new federal reporting…
Healthy things grow. That goes for both people and organizations. All but the smallest of businesses grow and evolve over time. Often it is a necessity to keep up with changes in the business environment, regulatory change, or simply changes…
When it comes to staying compliant with state regulations governing fundraising, it’s pretty safe to say you want to do things the right way. And, if you are fundraising in multiple states, you will want to comply with the registration…
So, you’re planning on starting a new nonprofit sometime soon. Maybe you’ve heard something about incorporating, but you don’t fully understand what that means. Or, someone told you to form an LLC instead. There’s a lot of misinformation and misunderstanding…
The decision to dissolve a nonprofit organization is often a challenging and emotional process for all involved. There could be any number of reasons why the decision is made: financial difficulties, fulfillment of mission, lack of participation, or even a…
One of the questions we often hear from clients, especially regarding Form 990 preparation, is, “Why are you asking me so many questions?” This is sometimes followed by a comment like, “If I knew I had to answer this much…
Bring up the subject of a nonprofit’s bylaws and you are sure to get an interesting response. For many nonprofit’s, their bylaws are just some forgotten document, full of legalese, gathering dust in a file cabinet somewhere. No one on…
One of the assumptions that we run into a lot in the course of our work is the idea that, for tax purposes, churches and ministries are essentially the same category of nonprofit. Turns out, that’s not exactly how it…
There are 156 million unchurched people in the U.S., and nearly half of that population is open to being invited to church. If you’re interested in reaching these people by starting a church, you must plan the logistics of your…