There’s a well-worn cliché that says, “If it’s not in writing, it didn’t happen”. When it comes to your nonprofit, no truer statement was ever uttered! But, unless you are the uber-organized type who just instinctively writes everything down, documentation…
When you hear the term nonprofit, the first thing that typically comes to mind is a charity, or 501(c)(3) organization. That’s for good reason, since roughly 78% of all tax-exempt organizations are exempt under IRC Section 501(c)(3). The remaining 22% consists…
One of the primary responsibilities of any nonprofit board member is to maintain the financial integrity of the organization they serve. Board members act as trustees of the organization’s assets and must exercise due diligence and oversight to ensure that…
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,…
We are continuing our multi-article series on the other nonprofits…and by other I mean those that are not charitable in nature. So far we’ve explored social welfare nonprofits and business leagues. Today’s post examines the third most common type of…
Many people are not aware there are nonprofits organized as a 501(c)(6), at least not enough to recognize them for what they are. The 501(c)(3) charitable nonprofit is so engrained in their consciousness, they don’t realize there are other categories. …
Mixing business and charity seems like it’s all the rage. Done well, it can be an effective way to both further the mission and raise financial support. In this post, we’re going to explore examples of each.
When someone talks about nonprofits, the first thing that comes to mind for most people is a 501(c)(3) charity. That makes sense, given that the majority of nonprofits have this tax-exemption designation. But charitable nonprofits don’t tell the whole story. …
When starting a 501(c)(3) organization, there are generally two choices of how the organization will be classified. It can be a public charity or a private foundation.
Being a member of a nonprofit’s Board of Directors comes with a lot of responsibilities. You are part of the organization’s governing body. You are expected to provide guidance and oversight, as well as strategic planning. You have a monetary…