For those starting a charitable nonprofit, completing the IRS Form 1023 - Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code – may be the most difficult part of the process. Form 1023 includes 11 Parts and 8 Schedules. A critical section for an applicant to complete carefully is Part IV, […]
forming a nonprofit
Nonprofit Startups and the Value of a Nonprofit Attorney
Insightful founders of new ventures understand the value of involving legal counsel in the early stages of planning. A knowledgeable attorney can identify issues, opportunities, and threats which allows founders to react appropriately as they plan the organizational and operational structures. As a result, investing in legal assistance at the outset can help to avoid […]
10 Keys to Starting a Nonprofit – Private Foundation
A thoughtful commitment to charitable giving and sufficient funding are baselines for starting a nonprofit private foundation. But there’s more needed. Check out the following steps you should take as you move forward: Identify your reasons for starting a new organization. Are they primarily altruistic or personal? What is it about starting and operating a private […]
Starting a Self-Sustainable Nonprofit
Can a charitable nonprofit be profit-making and sustainable without donations? It is a common misconception that “nonprofit organization” and “profit-making” are mutually exclusive concepts. It’s certainly possible from a legal perspective for a charitable nonprofit to generate profits if the profit-making activities are related to furthering a valid charitable purpose. And by related, we mean […]
10 Keys to Starting a Nonprofit – Public Charity
Part One of our five-part series this month on starting a nonprofit. A great idea and committed leader are the baselines for starting a nonprofit public charity. But there’s more needed. Check out the following steps you should take as you move forward: Define your mission and identify who you intend to serve in order […]