Wouldn't it be great if your nonprofit never had to think about the IRS again, once they approved your 501(c)(3) status, that is? Well, as you can imagine, that simply isn't the case. Nor should it be, truthfully. As it is, the…
Once you’ve decided your mission, developed an operations strategy and started building a team, it’s time to prepare and file your incorporation documents and 501(c)(3) status applications. If you’ve done your homework properly in documenting your mission, strategy and plans,…
After incorporating in your state and setting up your nonprofit’s 501(c)(3) status with the IRS, the biggest regulatory concern that you’ll have is maintaining ongoing compliance with the law. The regulatory filings required for both state and federal entities are used to determine whether your…
Perfecting the habit of properly documenting the activities of your nonprofit is one of the most important disciplines any new social entrepreneur can master. There's a well-worn cliché that says, "If it's not in writing, it didn't happen". When it…
Executive compensation is a hot-button topic for both nonprofit and for-profit companies. With the nature of compensation changing dramatically for technology and other high-growth industries, it is important to understand what is fair and competitive when setting your employee salaries.…
One of the most important things that a nonprofit can do to build a sustainable organization is to develop a robust fundraising system. Funding for nonprofits typically comes from three sources: donations, grants, and program revenue. Each of these sources has benefits and…
As a company, the Foundation Group team works with over 1,000 new, startup nonprofits each year. One of the biggest and most frequent challenges we face when working with clients is conflict-of-interest concerns. New 501(c)(3) organizations are particularly vulnerable to…
When you start a charitable organization, one of the most important decisions you’ll make is selecting your board of directors. Your board is legally responsible for governance, fiduciary, and strategic oversight of your nonprofit corporation. This usually includes ratification of your initial bylaws, as well as overseeing…
Once you know the purpose of your nonprofit organization and have an understanding of your desired ownership and controls mechanism, it is time for you to choose the type of 501(c)(3) that best represents your organization’s planned operational structure. There…
For a visionary individual who wants to start a nonprofit, the concept of ownership can be a tricky one. You’re a founder on a mission, with big ideas to help solve problems in your communities, and you want to retain…
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