Nonprofit Law Basics: What is the Difference Between a Public Charity & a Private Foundation?
The terms of nonprofit entities can be so confusing … public charity … private foundation … private nonoperating foundations … private operating foundations … public charities that act as foundations. What are they, and how do you tell which is which?
Since 1968, the Internal Revenue Code has distinguished Section 501(c)(3) nonprofit organizations into two tax categories: private foundations and public charities…
What is an L3C?
The L3C is a hybrid of a “for profit” and nonprofit organization, and has characteristics of each.
How Nonprofits Should Classify Part-Time Staff – Employee or Independent Contractor?
What is the difference between an employee and an independent contractor? Why does it matter?
Tax-exempt non profit organizations need to understand know the business relationship between the organization and the person performing the services…
Ready to write a nonprofit mission statement? Let’s get started!
A nonprofit mission statement is meant to convey the purpose of your organization in one to two clear sentences. This statement will be used to describe your organization’s work. It will be part of your pitch as you recruit board members, employees, volunteers, and donors. It will serve as a touchstone for your organization since your mission statement should guide all of your organization’s initiatives…
Nonprofit Q&A: What is a nonprofit conflict of interest? How can a policy help?
A conflict of interest is an actual or perceived interest by an officer, board member/director, or staff member in an action that results in, or has the appearance of resulting in, personal, organizational, or professional gain.
Social Enterprise Q&A: What is a social enterprise?
Social entrepreneurship is a rapidly emerging field in which nonprofit and business leaders develop mission-driven enterprises. It deals with creating and leading organizations that advance social change through innovative solutions.
What is a B-Corp? What is a Benefit Corporation? What’s the difference?
The B Corporation (or “B Corp”) is a relatively new certification and a way for entrepreneurs to identify their business as something more than just a for-profit endeavor. These social entrepreneurs want to use their business to do good and solve social and environmental problems. B Corp status is a certification process from a third-party business that recognizes the company’s commitment to certain sustainable practices. This is different from a Benefit Corporation.
Did your Nonprofit Change its Name or Address? Better Inform the State & IRS
State Updates – Corporate changes Nonprofit corporate changes occur on a state level. So, if the organization changes its name, address, or registered agent, or adopts amendments to its Articles of Incorporation, it is required to file notice of the changes with the Secretary of State and pay the applicable fees. Each state has different […]
Nonprofit Q&A: What needs to be included in our Minutes? What are nonprofit minutes?
Does your organization understand the importance of board meeting minutes? While nonprofits must balance multiple priorities, keeping accurate board meeting minutes should be at the top of that list.
Nonprofits and Political Campaign Activities – What Is Allowed?
Tax-exempt organizations should know how they and their employees can participate in this upcoming election, along with other statewide and local elections that may affect them. IRS restrictions, allowed political campaign activities, employee engagement…