Using a 509(a)(3) Supporting Organization as a Private Foundation Alternative
“What Is a 509(a)(3) Supporting Organization?”. Now, we want to take a look at one way to take advantage of this unique structure.
Recordkeeping Basics for Nonprofits
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…
How the IRS Defines Charitable Purpose
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…
Fiduciary Responsibility of Nonprofit Board Members
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…
Are You Misappropriating Your Nonprofit’s Funds? A Look At Restricted Donations
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,…
What Is A 501(c)(4)?
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. …
Public Charity vs. Private Foundation
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.
3 Key Considerations for Charities and Foundations Offering Scholarships
Scholarships are an excellent opportunity to make a positive impact and support the objectives and mission of your nonprofit. This is particularly true if your organization’s mission is primarily educational in nature. But the benefits aren’t exclusive to educational nonprofits.…
How a Subsidiary 501(c)(2) Could Lower Risk for Your Nonprofit
Risk management should be among the top strategic initiatives of every nonprofit board of directors. Establishing effective policies and procedures will help, as will requiring separation of duties and limiting conflict of interest. But, what if your nonprofit owns real…
Maximize Giving Tuesday for Your Small Nonprofit
Giving Tuesday is a global day of giving that has grown into the world’s biggest giving movement and gets bigger every year. Donors in the United States gave a whopping $2.47 billion to nonprofits on Giving Tuesday in 2020, up…
