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…
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…
A few months ago, we looked at some key points regarding nonprofit executive compensation. This week, we want to take a closer look at best practices for paying everyone else your organization employs.
There are few topics that generate more confusion to nonprofit managers than unrelated business income (UBI). It is also one of the areas than can cause the most problems for your organization. It can cost you money in the form…
Nonprofits seeking federal tax-exemption under Section 501(c)(3) of the Internal Revenue Code have for decades applied by filing Form 1023 with the IRS. In 2011, the National Taxpayer Advocate recommended that the IRS develop a simplified method, particularly for small nonprofits. The…
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…
If you’re passionate about a cause, you’re likely eager to take action and make a difference. While there are seemingly endless ways you could go about this, starting a private foundation might be the solution. Although launching your own organization…
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…
When starting a 501(c)(3) organization, there are generally two choices for classifying the organization: private foundation or public charity. Public charities represent the largest share (72%) of active, 501(c)(3) organizations. Their purpose is to perform charitable work, while private foundations…
Your board of directors is one of the most important assets your nonprofit has. Assuming they understand their role and are there for the right reasons, your board members provide invaluable insight, direction, and oversight. They volunteer their time and…