As a tax-exempt organization, your business goals are likely not profit-driven, but they are purpose-driven. That’s fantastic and truly why your organization is authentic with heart and impact! However, adopting a financially competitive mindset can lead to more and better services provided, which leads to more lives being changed. The following are key ways to stay ahead of the financial curve:
In the age of the internet, the world is at your fingertips. Business transactions can cross thousands of miles in a matter of seconds when using online platforms. For nonprofit organizations who take advantage of this connectivity, the opportunities for growth are endless.
You began your organization with a mission. You provide services or aid to a target population. Whatever your charitable purpose, you are driven by a desire to see change. After establishing your organization, ensuring governmental compliance, building a network of sustainable donations, and seeing your work create change in your community, what’s next?
Your organization may be ready to grow internationally. This ambitious goal requires preparation. Here are five keys to expanding your non-profit abroad.
Deciding when to invest in an attorney is an important decision. Frequently, people hope to save money and have one attorney or agent represent the interests of both individuals on either side of a dispute. However, in order to do so the attorney must comply with strict disclosure rules for the state in which he or she is practicing. Both parties on either side of the conflict must be made aware that there is a potential conflict, that they have the right to independent representation, and they generally are required to sign a written agreements acknowledging they have been made well aware of their rights. Sometimes this agreement is reached and both parties and the attorney will review and be asked to sign a conflict of dual representation agreement. Read more
If you are contemplating starting a non-profit organization, there are certain skills needed by the principal management for running a non-profit organization. These skills are unique to non-profit organizations and are needed to operate as efficiently as possible. The following seven skills are extremely important.
In the United States today, the majority of Americans use credit and debit cards and students are no different. Often times students receive their first card when they enter a college or university. These cards are school sponsored credit cards. The schools are required by law to comply with the consumer protection laws when offering school sponsored credit cards. In December of 2015, the Federal Consumer Financial Protection Bureau (CFPB) sent warning letters notifying 17 higher education institutions that they have to improve disclosure of credit card agreements as required by law.
All colleges and universities are required to comply with the Credit Card Accountability Responsibility and Disclosure Act (CARD). Rule 15 U.S.C. § 1650(f)(1), known as the CARD Act, necessitates that all institutions of higher education must disclose publicly any contract or agreement made with a credit card issuer or a creditor whose intent is to market a credit card. 12 CFR § 1026.57(b); Comment 1026.57(b)-1 sets forth the guidelines for compliance:
The accidents caused by firearms continue to rise in the United States. This week, the federal government has decided to take action to reduce the number of firearms obtained by ineligible individuals. The people who fall into this category of “ineligible” include convicted felons, perpetrators of domestic violence, as well as individuals who suffer from mental health challenges that risk harm to themselves or others. The question then becomes how institutions will properly comply with federal healthcare privacy laws under HIPPA and also meet the objective of these executive orders.
Middle Eastern countries are rich in history, culture, food, and language. The region is dynamic and deep in learned texts, insights, and more. However, outsider access to this region is becoming more limited as many Middle Eastern countries are reluctant to receive foreign criticisms of their economic policies, human rights records, or political unrest. This is in contrast to another country near the region that welcomes international students, business, and research into its country. This is the country of India. By allowing foreigners into its country, the Indian government is able to promote global economics and improve its advancement and scholarship.
Many people have heard of tax exempt organizations, yet not everyone is clear on what the term means. A tax exempt organization is one that is exempt from paying federal income tax. There are 29 types of nonprofit organizations that the Internal Revenue Service recognizes as exempt from at least some federal income tax. The eight most common types of tax exempt nonprofit organizations are:
If you are thinking of starting a non-profit organization, then it is important that you are aware of the many different non-profit designations that are available.The IRS has over 30 different options to choose from so it is important to know which one is right for your organization. It covers a broad range of issues that are specific to the purpose or type of membership that makes-up the organization.