The non-profit entity has been formed, the board of directors is in place, and your bylaws have been written. You’re ready […]
When setting up a non-profit organization, many people overlook the importance of crafting nonprofit bylaws that are customized to the […]
You’ve decided to incorporate – congratulations! This is a big step in any non-profit business venture. When you’re finished, your organization […]
A nonprofit embezzlement incident is emotionally devastating, causing nonprofit leaders to question their own judgment and management ability. It erodes […]
As you’re assembling your non-profit board of directors, your mind may naturally turn to who holds the power and actually […]
Once you’ve done your non-profit research and created a business plan, you know the what and why of your organization. […]
Have you ever had an idea you can see so clearly, so precisely, that you know it has to be shared with the rest of your community, state, country, or even the whole world? You’ve probably thought about starting a non-profit organization as a way to turn your dream into a reality.
It’s important to remember that a non-profit organization is a business, just like all the for-profit companies out there. You should think like a CEO right from the start. With the proper tools and support, you can start giving back to your community and changing lives. In this post, we’ll explore four things you should do as you make plans to get your non-profit organization up and running.
The recent high-profile ouster of Southern Poverty Law Center CEO and Founder Morris Dees, and the resignation of Board Chair Richard Cohen, show how things can go awry when a board does not provide appropriate oversight.
The board collectively, and directors/trustees individually, owe fiduciary duties to the nonprofit organization they serve. In essence, exercising fiduciary duties means that board members have a duty to act with care and in the best interest of the organization and remain loyal to its mission, as opposed to acting in their own interest or the interest of the CEO/Executive Director they supervise.
Whether your interested in giving abroad because you’ve traveled to distant parts of the world and were inspired by the inventiveness of the communities you visited, read about an issue in a news article, or maybe just feel a special kinship with a given place, the desire to help can quickly move to the top of your priority list.
A nonprofit can never be too careful when screening its employees and volunteers. As such, more are conducting due diligence on their employees and volunteers. This is particularly true for those that serve vulnerable populations like children, the elderly, or abuse victims. Part of that diligence is having the volunteer fingerprinted for a background check. If your organization is considering adding this step to its due diligence, do you know where to go for fingerprint background checks?
A charity generally is required to register with their state in order to solicit charitable contributions if state law requires. Currently, there are 39 states and the District of Columbia that have such requirements.
For a nonprofit organization to succeed, it must have a high functioning Board. While management deals with the day to day operations (planning, organizing and executing the organization’s programs), the Board of Directors provides oversight over the organization’s management, finances, mission, and strategic goals.
With the market volatility of the last six months, funding sources and non-profits alike may be uneasy given memories of the 2008 recession. Although predicting future macro-economic forces may be impossible, it is always a good idea for 501(c)(3) non-profit corporations to seek to diversify revenue streams to prepare for shifts in funding.
There are 27 different types of non-profits in the Internal Revenue Service (IRS) code, but the most numerous categories are IRS 501(c)(3) corporations (charitable organizations) and IRS 501(c)(4) corporations (social welfare organizations).
When considering acquiring another nonprofit, there are two types of acquisitions that are typically considered – an asset purchase and a merger transaction. Several factors, including due diligence, payment of consideration, assumption of liability, assignment of contracts (including endowment agreements), existence of planned gifts, future operating goals and applicable state and federal laws, should be considered in determining the structure of the potential transaction.
Have you ever considered starting your own private family foundation? For those who have causes you are passionate about, creating a […]
Tax-exempt organizations must report changes to their name, address, changes to their articles and bylaws, and major operational changes to the IRS.
At the end of each year we like to review our most popular posts to see what our readers are most interested in.
All Boards make recruiting mistakes. They carefully vet and enthusiastically elect a new Board member. They hold an orientation, provide […]
An “unincorporated association” means a group of people who act together in a joint enterprise and for a common purpose.