The groundbreaking Facebook founder has once again broken with tradition and formed his philanthropy as an LLC. Clients have questioned the benefits of choosing to forgoe the traditional private foundation in favor of an LLC. We are here to break it down.
Donors wishing to help the victims of a tragedy, a serious illness, or other major hardship are often surprised to learn that gifts earmarked for specific individuals are not tax deductible as charitable contributions. This rule catches many donors off guard as it is not intuitive that gifts made to individuals who are clearly in need would not be considered charitable.
Be a smart detective. Find out who is doing what. Find out why they’re funding what they’re funding. And then put yourself in that spotlight. Collaborative efforts are sometimes advisable and attractive to funders so consider whether collaboration can move your mission forward.
Realize that grant funding is a long haul. It takes time to build up rapport. Grantmakers will typically give you […]
The trouble with obtaining grants from foundations is that you either have to be very well known, like a children’s hospital or a well-established school, or you have to have a very strong “in.” Most non profits, especially new ones, typically have neither. However, if your program is fulfilling a compelling need in a new and creative way, you may still attract those elusive grants.