Several months ago, we posted an article and accompanying video about Beneficial Ownership Information (BOI) filings for nonprofits. We’re almost one year into this new requirement, and with 2025 on the horizon, what changes and/or updates do you need to…
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…
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…
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…
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…
The IRS has all sorts of rules about what your nonprofit can and can’t do and still maintain 501(c)(3), tax-exempt status. In this article, we’re focusing on the rules concerning the who. Specifically, who can and can’t fulfill certain roles…
One of the most important ways your Board can support your nonprofit is by making a personal, financial contribution to your nonprofit.
Sometimes, those operating a charitable activity do not wish to fully formalize what they’re doing into an actual 501(c)(3) nonprofit entity. The reasons for this vary, but often the services of a fiscal sponsor is needed. Properly setup, fiscal sponsorships…
Founder’s syndrome. It affects nonprofits and for-profits alike. And it can be crippling to any organization, regardless of the form it takes. Understanding what it is and how to avoid it, or fix it, is crucial to the future of…
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…