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,…
When you’re just getting started, there’s a LOT to do, from building your Board to setting up an office to raising money. And if you are the founder, you are probably doing most of the work yourself. That’s when a…
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 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.
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.…
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…
Healthy things grow. That goes for both people and organizations. All but the smallest of businesses grow and evolve over time. Often it is a necessity to keep up with changes in the business environment, regulatory change, or simply changes…
Some days, there are pieces of mail you really wish you didn’t receive. Bills, late notices, warranty expirations, or recalls on your car are all examples of items we’d rather not get. But one piece of mail you really don’t…
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…
Many nonprofits tend to focus primarily on their federal compliance filings, such as IRS Form 990, and for good reason. All tax-exempt nonprofits must file a version of Form 990 each year. But for organizations based in other states, particularly…