Grants are valuable sources of funding for nonprofits. Fortunately, there are lots of grants available if you have the time to look for them. However, they’re not always easy to get because competition for them is generally pretty strong. One…
Setting up a nonprofit organization is an exciting venture. There are many bases to cover and many things to take care of, especially in the beginning. There are only a few costs associated with getting a nonprofit up and running.…
Once your organization receives its notice of 501(c)(3), it gains specific tax advantages. Having said that, your nonprofit doesn’t get to keep its tax-exempt status forever. Regardless of what services your nonprofit provides, it has to continually meet the guidelines…
What is the difference between a 501(c)(3) and a 501(c)(4)? The answer to the question isn’t all that simple, even for nonprofit board members. Both designations fall under the umbrella of nonprofit organizations, and these classifications are only 2 of…
Managing an organization’s money in a fiscally responsible way is a challenging duty for nonprofit boards. How much should you spend? How much should you invest? How much should you hold on reserve for operating expenses and emergencies? Novice board…
The process of founding a nonprofit is exciting, and perhaps a bit scary. An important thing for founders to know is that getting 501(c)(3) tax-exempt status takes time. It takes time to research all the requirements. It takes time to…
In the world of charitable activities, it’s common to hear people using the terms nonprofit organization and 501(c)(3) in reference to all charitable organizations. There’s a good deal of truth in that, but it’s not quite that simple. The federal…
Government compliance documents can be complicated and confusing for nonprofit board members. Perhaps what makes them even more challenging is that the laws and regulations are always changing. That makes it difficult for boards to complete them properly, especially when…
Every nonprofit started with a great idea for serving people. The group may include people in a particular community or a group of people that have specific characteristics in common. Either way, nonprofit boards face a world of uncertainties. The…
Oversight is the board’s responsibility. In the interest of stewardship and gaining the public’s trust, it’s common for nonprofits to maintain a fairly lean budget and keep a good eye on the organization’s finances. For some boards, keeping a lean…
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