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An IRS-perceived conflict of interest can put you at risk of being rejected for your tax-exempt status.The principle conflicts are close connections, outside relationships and self-dealing, and excessive benefit or compensation.IRS concerns over these close connections are aimed at separately established organizations that have (or plan to have) a relationship involving sharing or coordinating management
When you’re recruiting your Founding Board of directors, it’s important to keep things simple and specific. When new board members join, you want to be clear about the requirements of the role and the length of their term with you. Here’s two main principles on how to onboard your new board members smoothly: 1. Let them off
Introduction to Fundraising – Mindset and PhilosophyUltimately, fundraising is all about communicationYou don’t want to force anyone to give – your target is to frame your cause in a way that helps your prospect find an alignment and meaning in it, that is of higher value than the money in their pocket.[Download and Print this
How to Apply for Tax-Exempt Status: Form 1023-EZ – What is it, and can you use it?In 2014, due to pressure from Congress and the private sector over exceedingly long approval delays for 501c3 applications using the traditional “long form” 1023 Application for Tax Exempt Status (averaging 18 months or more) the IRS introduced the greatly
A business plan is just as important for a nonprofit organization as it is for any for-profit-making company. Not only will your business plan guide your growth, but you’ll also quickly discover that investors, donors, and board members will ask to see copies of your business plan, and if you don’t have one, you could miss
Chances are, if you’re reading this article, you’ve already got a great mission and purpose in mind. But right now, you know that choosing a great name for your for your nonprofit is crucial. [Click here to get your downloadable worksheet to Create an Unforgettable Name for Your Nonprofit!]You’re learning how to launch a tax-exempt nonprofit organization
So often I’ll meet a passionate social entrepreneur who, when given the chance, just runs on and on about their ideas, their mission, and their dreams. You’ve likely seen this type of person, or maybe you have even done this…I know I have!Too often the excited nonprofit founder totally overwhelms – or bores – the listener,
How to Get 501(c)3 Tax-Exempt Status: Overview of the IRS Form 1023 “Long Form” Application & Form 1023 SchedulesWhich IRS Form 1023 is right for me?Organizations with assets of more than $250,000 or revenues over $50K per year, or whose mission/purpose and activities are incompatible with the 1023-EZ, must use the long-form 1023 Application process.The IRS
EDITOR’S NOTE (from the CEO): When thinking about the material available on the internet regarding how to start a 501(c)3 nonprofit, it occurs to me that most “how to” material falls short, and often consists of burdensome lists of “what to do” versus granular steps that new founders can follow.I hope you’ll see this is quite
Why we changed “Yippiekiyay” to InstantNonprofitGood morning.I have a confession to make.I broke one of my own rules… …a rule I have been teaching in the nonprofit and business space for years……and now that I have made it right, I wanted to explain.YIPPIEKIYAY: HELPING HEROES CHANGE THE WORLDIf you’ve been following us for a while
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"In a gentle way, you can shake the world." - Mahatma Gandhi