At Foundation Group, we love nonprofits. And, we love working with our clients who are setting up these essential organizations all across the globe. There are many great reasons to start a nonprofit. As you’ve no-doubt seen in our marketing…
Nonprofit organizations thrive on the dedication and commitment of their board members. However, as much as we hope for a gloriously harmonious experience, conflicts may arise, and difficult board members can present challenges. In this article, we will discuss how…
Nonprofits seeking federal tax-exemption under Section 501(c)(3) of the Internal Revenue Code have for decades applied by filing Form 1023 with the IRS. In 2011, the National Taxpayer Advocate recommended that the IRS develop a simplified method, particularly for small nonprofits. The…
Running a highly effective nonprofit organization is no small feat. The mission-driven focus of nonprofits places a high demand on resources, time, and energy. However, in the process of making a difference, many nonprofits find themselves grappling with compliance issues…
Nonprofit executive compensation tops the current list of IRS hot button issues. In recent years, the IRS has been ramping up its oversight and enforcement of nonprofit executive compensation. With all the rancor surrounding executive perks and bonuses on Wall…
One of the lesser known purpose categories of charitable 501(c)(3) organizations is “Scientific”. But what exactly does that mean? Does your nonprofit qualify as a scientific charity?
One of the things that you learn quickly when starting and operating a 501(c)(3) organization is that you have to handle money wisely. A nonprofit is no different than any other business in that you must make ends meet. Otherwise,…
So, your nonprofit teaches people things? I guess that makes your nonprofit an…educational charity? That just might be true. Today, we’re looking at the 501(c)(3) purpose category of education.
The concept of who owns a nonprofit organization can be hard for some to grasp, especially given that the answer is, “No one!” We encounter this confusion with new clients on a fairly regular basis. And, given people’s understanding of how basic…
IRS Form 990 is the most critical annual compliance filing for nonprofits. It’s like a window into your nonprofit, which makes it a challenging tax (information) return to complete. That’s where this guide comes in. We’ll answer all the questions…