If you’re well-versed in the basics of 501(c)(3) organizations, you know that 501(c)(3) status requires an organization to have an IRS-determined charitable purpose. One category of qualifying charitable purposes that these organizations can hold is religious. But there is a…
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…
In working with thousands of nonprofit startups over the years, one of the most frequent challenges we face when working with clients is conflict-of-interest concerns. New 501(c)(3) organizations are particularly vulnerable to this for a number of reasons, chief among…
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…
Nonprofit organizations play an important role in addressing societal issues and providing services to communities. The board of directors is a critical component of these organizations, as they are responsible for overseeing the organization’s strategy, finances, and operations. In this…
A common mistake made by both businesses and nonprofits alike is the failure to budget income and expenses. Far too often, it’s a see-what-comes-in mentality that rules the day, with no attempt to plan, manage, or adapt to changing financial…
There’s a lot that goes into starting a nonprofit. Here’s 11 things to consider…because 10 is never enough!
Work with startup nonprofits for as long as we have, and you’re bound to hear virtually every idea someone could come up with. We had a lot of fun in our last post exploring the terrible ideas people have that…
At Foundation Group, we love nonprofits. And, we love working with our clients who are setting up these essential organizations all across the globe. There are many great reasons to start a nonprofit. As you’ve no-doubt seen in our marketing…
Starting any type of business is a risky endeavor. Whether you’re starting a consulting firm, a food truck, or a nonprofit food pantry, entrepreneurs face unique risks. And given that nonprofits can’t have owners, many social entrepreneurs face an even…