Article taken from Entrepreneur Magazine online. https://www.entrepreneur.com/article/314045 Serial entrepreneur Concetta Mantinan breaks down a few important business strategies.NEXT ARTICLE Candace SjogrenVIP CONTRIBUTORHead of Alternative Lending at Marqeta June 1, 2018 5 min readOpinions expressed by Entrepreneur contributors are their own. Knife Skills, an Oscar-nominated documentary, describes the opening of a unique restaurant. Edwins, a fine French dining establishment,… Read More
What are the advantages/disadvantages of becoming a nonprofit organization?
Advantages Article taken from grantspace.orghttps://grantspace.org/resources/knowledge-base/pros-and-cons/ Tax exemption/deduction: Organizations that qualify as public charities under Internal Revenue Code 501(c)(3) are eligible for federal exemption from payment of corporate income tax. Once exempt from this tax, the nonprofit will usually be exempt from similar state and local taxes. If an organization has obtained 501(c)(3) tax exempt status, an individual’s… Read More
What activities can jeopardize a nonprofit organization’s tax-exempt status?
Article taken from grantsspace.orghttps://grantspace.org/resources/knowledge-base/tax-exempt-revocation/h IRS regulations prohibit 501(c)(3) public charities from specific types of activities and require certain levels of reporting and public disclosure. An organization that fails to abide by these rules may be placed under sanction or have its tax-exempt status revoked by the IRS. These regulations include: Private benefit/inurement –-“ An organization… Read More
How do I start a nonprofit organization?
Article taken from grantspace.orghttps://grantspace.org/resources/knowledge-base/starting-a-nonprofit/ Starting a nonprofit organization can be an inspiring way to give back to your community and help those in need. However, it is important to understand all of the steps involved in this process before moving forward. Growing and sustaining a nonprofit may take years of effort and a great deal… Read More